What are the main causes of tightened crude oil supplies from Western Canada to the U.S. Cushing hub and Midwest refineries?

Wet weather in northern Alberta has temporarily slowed oil sands mining, and a power outage at Cenovus Energy's Foster Creek and Christina Lake operations—prompting a force majeure declaration—temporarily took about 10% of the company's oil sands production offline.

How have Canadian crude inventories and pricing been affected recently, according to the report?

Western Canadian crude inventories are at their lowest level since 2020, having decreased by more than 4 million barrels over the past two weeks and nearly 8 million barrels since the end of February; meanwhile, the discount on Western Canada Select to West Texas Intermediate narrowed by approximately $4 since the end of May, reflecting significantly strengthened heavy crude prices.

Canada Oil Outages and Bad Weather Tighten Inventories at Key US Storage Hub

Jun 11, 2026

Weather and power outages at Cenovus Energy have tightened Canadian crude exports, straining U.S. Midwest refineries and Cushing inventories amid global supply constraints. Western Canadian stockpiles have fallen to 2020 lows, strengthening heavy crude prices.

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Canada Oil Outages and Bad Weather Tighten Inventories at Key US Storage Hub

Canada Oil Outages and Bad Weather Tighten Inventories at Key US Storage Hub

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