Canadian Heavy Crude Market Needs Reform

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.