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Calgary Herald reported that Canadian heavy oil is often heavily discounted as it is largely sold into a single market in the U.S. Midwest.
Calgary Herald reported that Canadian heavy oil is often heavily discounted as it is largely sold into a single market in the U.S. Midwest.
As quoted in the market news:
Eliminating the existing discount, or price differential, would generate close to $10 billion a year in added economic activity if Canada’s 1.5 million barrels per day – growing to more than three million by 2020 – of oilsands production was simply treated like Mexican Maya.
Click here to read the full Calgary Herald report.