Around the oilpatch this week — Wildfire risks ease, oil prices rise and spare pipeline capacity narrows

Summary

Alberta's crude oil pipeline shipments increased to 4.7 million bbl/day in Q1 2025, leaving only 200,000 bbl/day of spare capacity. WTI prices rose above $70/bbl, while the heavy oil discount narrowed to just below $9/bbl. The Caribou Lake Wildfire has been contained, allowing SAGD operators to restore full production.

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