Financial Post reported that China is competing with the US to secure supply of crude oil from Canada.
As quoted in the market news:
China is an ideal client for Canada in Asia as it has the ability to process a wide range of crude and its appetite continues to grow. The Canadian heavy sour grade, which will be shipped to Asia, has API gravity of 19-22 degrees and contains around 3% sulphur. Most Asian refineries process crude of 30 degrees API.
Get Our Expert Guide to Oil Investing FREE!Download this FREE Special Report, Oil Investing: Oil Price Forecast and Oil Deposits Around the World