Jan 18 2019

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LinkedIn

Canadian crude oil prices have increased and are trading at the lowest discount to American oil in ten years.

Canada’s Oil Trades At Smallest Discount To WTI In A Decade – oilprice.com
Last year, the gap between Canadian crude prices and U.S. oil hit a record difference of more than $51 a barrel in October. By Friday, the difference was less than $7, the lowest since March 2009, according to RBC Capital Markets.

The price is a mark of success for the Alberta government’s efforts to cap supply and boost the country’s income,

reports The Wall Street Journal. Alberta oil producers were in December forced to cut output by nearly 9% to help depressed prices.

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