By January 14, 2019 0 Comments Read More →

Saudi and Canadian Cuts Are Leaving World Hungry for Heavy Crude

Output cuts in oil-rich Alberta and Saudi Arabia are combining to leave heavy-crude refiners from the Gulf of Mexico to Asia in a bind.

While curtailments in the Canadian province have propelled local prices to their strongest level in almost a decade, other grades like Arab Heavy and Heavy Louisiana Sweet are also surging. The Saudis are expected to largely focus on paring output of heavy crude as they lead efforts to rebalance the global market.

“Historically, when the Saudis have cut output, it’s heavy and medium crude,” said John Auers, executive vice president at energy consultant Turner Mason & Co. in Dallas.

Click Here For Remainder of Article

Posted in: Daily News

About the Author:

The Louisiana Oil & Gas Association (known before 2006 as LIOGA) was organized in 1992 to represent the Independent and service sectors of the oil and gas industry in Louisiana; this representation includes exploration, production and oilfield services. Our primary goal is to provide our industry with a working environment that will enhance the industry. LOGA services its membership by creating incentives for Louisiana’s oil & gas industry, warding off tax increases, changing existing burdensome regulations, and educating the public and government of the importance of the oil and gas industry in the state of Louisiana.

Post a Comment