The Crude Report: TMX Series: December cargo exports poised to rise
Argus Media8 Loka 2025

The Crude Report: TMX Series: December cargo exports poised to rise

In the latest episode of the Crude Report: TMX Series, Argus Americas Crude west coast reporter John Cordner talks with deputy editor Amanda Smith about Canadian crude exports via the Trans Mountain pipeline. Increased production and more favorable arbitrage economics are expected to boost waterborne exports from the Vancouver area.

Topics discussed:

  • Although most Canadian crude exports head to the US, last year’s Trans Mountain Pipeline Expansion (TMX) has provided the conduit to export an average of 440,000 b/d to the US west coast and Asia this year.

  • Canadian and condensate production is projected to reach a record 5.05mn b/d in the fourth quarter, increasing the need for export capacity.

  • December TMX export volumes may match March’s record levels of 530,000 b/d, with indications suggesting the heavy Canadian waterborne fob Vancouver premium to inland prices in Alberta will be high enough to make pipeline flows more lucrative.

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