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Next Year's Challenge for Canada's Oil Patch Comes From the Sea

From bloombergquint.com

Just when relief was in sight for Canada’s beleaguered heavy oil producers, a new threat is emerging. A new rule taking effect in 2020 aimed at reducing pollution by cutting the sulfur content of maritime fuel will make sulfur-heavy oil sands crude less desirable. That may dampen the impact of an Enbridge Inc. pipeline expansion and additional rail capacity that oil producers are counting on to ease a transportation glut from Alberta. Heavy oil prices sank to less than $15 a barrel, as rising production swamped existing pipelines and rail routes, forcing some producers to shut in output. Some companies have called ... (full story)

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  • Category: Fundamental Analysis