U.S.-Canada Oil Pipeline Nears Go-Ahead as Shippers Lock In Volumes

A long-delayed push to move more Canadian crude into the United States is back on the table, and this time it has barrels behind it. Oil companies have committed at least 400,000 barrels per day to the project, or about 72% of its initial 550,000 bpd capacity. South Bow Corp. and Bridger Pipeline are targeting roughly 450,000 bpd in long-term contracts, a level that is typically required before construction proceeds. That demand tells you everything about the current bottleneck. Canada is producing about 5.5 million bpd and heading toward 6.1 million…