Canadian Heavy Oil Fits Well With Structural Change In The Market 31/07/17 •lweb.es/f2913 •bit.ly/2fqVs7l
Output has fallen in both OPEC and non-OPEC Latin American countries leading refiners even in China to look to Alberta’s oil sands to fill the gap. This interest has boosted the price for heavy Western Canada Select, Canadian heavy oil being an easy substitute for Middle Eastern and Latin American grades. The discount for Canadian oil delivered to the U.S. storage hub in Cushing is around $5 a barrel below U.S. crude. Canadian barrels could supply refineries in Sweeney, Texas, and St. Charles, Louisiana, where Venezuela accounts for the majority of imports.