Physical flows will foster changes to energy benchmarks

Mark Pengelly - Energy Risk

Pancake lovers will know of Canada’s dominance in the global market for maple syrup – a market in which Quebec makes up over two thirds of global supply. But when it comes to another highly prized liquid commodity, albeit one that doesn’t taste as good on pancakes, the country is only just beginning to make its might felt.

Canada has estimated proven reserves of crude oil totalling 173.6 billion barrels, according to the Oil & Gas Journal – the third-largest in the world, after Saudi Arabia and