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US shale oil growth hurts Canadians as well as Opec

Surge of light oil from North Dakota and Texas is cutting into earnings of Canadian producers
Thursday, January 22, 2015 - 05:50
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Light synthetic crude produced by upgraders has been worth just US$10.75 a barrel more than heavy crude in Alberta this month, down from about US$25 in 2013, according to data compiled by Bloomberg.

Calgary

OPEC (Organization of the Petroleum Exporting Countries) isn't the only victim of the growth in US shale oil.

A surge of light oil from North Dakota and Texas is cutting into the earnings of Canadians who turn heavy oil sands into a lighter crude that fetches more from