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CMOP

Canada oil exports increase, finding U.S. buyers despite shale oil boom

CMOP in Markets & Trading

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CMOP

The National Energy Board says Canadian oil exports rose by 6.5 per cent last year to 3.3 million barrels per day despite an increase in light shale oil production in the United States, Canada’s biggest customer and competitor.

 The U.S. still wants to buy Canadian heavy crude because many of its refineries are configured to process it and it is a cheaper feedstock than light oil.

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