Crude Oil by Rail Fell in 1st Quarter

Crude oil shipments continued to decline during the first quarter of 2016 the Association of American Railroads said.

AARU.S. Class I railroads originated just over 63,000 oil loads, which was a drop of 25.5 percent from the fourth quarter of 2015 and 44.1 percent from the first quarter of 2015.

AAR said the falling crude oil traffic was due to an oversupply of crude oil, coupled with less demand and a strong U.S. dollar.

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