Oil sands supply weighs on WTI prices
Canadian oil sands could become the top source of US crude oil imports this year, according to a report published on Wednesday (May 19), raising concerns that oversupply of US crude will continue to weigh on prices
Research published on Wednesday, May 19, by energy advisory IHS CERA says Canadian oil sands are poised to become the number-one source of US crude oil imports in 2010. By 2030, oil sands imports could be in the range of 20% to 36% of US oil and refined product imports, compared to 8% last year, according to the report.
“The fact that oil sands by themselves – were they a country – are set to become the largest single source of US crude oil imports this year, emphasises the importance they have
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