Canadian oil stocks have analysts on Bay Street feeling bullish as the Trans Mountain Pipeline expansion redefines the market for Alberta’s crude.) is expected to kick off the third-quarter earnings season for the sector on Oct. 30, followed by larger peers Canadian Natural Resources slid six per cent in the third quarter versus the prior three months, the discount on Canadian crude was largely flat, thanks to the Trans Mountain Pipeline Expansion having come on-stream in May.
The Trans Mountain Pipeline Expansion adds an extra 590,000 barrels of oil per day to the link from Alberta to the Pacific Coast. Bouvier estimates this first addition of new capacity in well over a decade will allow excess space until mid-2027. “Oil price volatility is not going away, but the re-engineered model that energy producers have embraced has afforded investors with a sector that has financial resiliency and shareholder return optionality like never before,” Pardy wrote in a note to clients.“The pace of buybacks may vary, but the direction of travel is unmistakable.
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