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Fundamentals could pull back Canada’s heavy oil prices
The discount for Canada’s heavy oil, which gradually widened through most of 2018 and then shrunk abruptly at the end of the year when Alberta announced mandatory production cuts, could widen again as the market realizes the province’s oil transportation difficulties remain unsolved, an analyst said.Alberta announced plans to curtail production by 325,000 bo/d starting Jan. 1, leading to a rebound in prices. Trading in WCS has been thin and the prices do not......
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