Canadian Drillers Are In No Rush To Bring Back Oil Production

Despite the fact that some Canadian oil producers have started to restore the production they had curtailed earlier this year, the pipelines carrying heavy oil to the market are not overflowing as they were a few months ago, according to estimates from analysts and pipeline operators. Enbridge, the operator of the Mainline—the largest pipeline network in North America—told Bloomberg this week that nominations for heavy crude oil exceeded capacity by just 3 percent for July and by 7 percent for August, compared to shipment nominations…