The Strategic Petroleum Reserve release in the United States—a large one designed to release a million barrels per day from storage into the commercial markets—is creating a bit of a problem for the Canadian oil industry. All crude oil grades aren’t equal, and a large share of what the SPR is releasing into the Gulf Coast area is heavy sour crude—a similar grade to the oil shipped down from Canada.
The heavy Mars and Poseidon grades—both hailing from the GoM area and both heavy grades—are getting lost in the…U.S. SPR Release Is Creating A Problem For Canada’s Heavy Crude Oil
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