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Railroad exec expects oil shipments to pick up

2015-06-15 23:52:00| Railroads - Topix.net

A 37 percent rebound in oil prices will boost crude-by-rail shipments as drillers complete more wells and extract more crude that U.S. pipelines don't have the capacity to handle, Burlington Northern Santa Fe executive chairman Matthew K. Rose said Monday. BNSF is preparing for a recovery after shipments of crude and petroleum products by rail fell from a record 17,074 cars the week of Dec. 12 to less than 13,000 in March as crude prices fell by more than half.

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