Liquidity improves in Canadian heavy oil derivatives

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Canada is playing an increasingly important role in the North American energy market. The country is the top exporter of petroleum to the US, and with estimated proven reserves of 173.6 billion barrels – most of which lie in Alberta's oil sands – it has the third-largest reserves in the world, after Saudi Arabia and Venezuela, according to Oil & Gas Journal. Yet when it comes to oil derivatives, Canada punches beneath its weight. When oil firms in Alberta have sought to hedge their production, t