Canadian oil firms stand to gain from U.S. lifting ban on crude exports

From theglobeandmail.com

Canadian oil producers should benefit from more favourable pricing over the long term as the United States moves to scrap a four-decade ban on crude oil exports, although the change will not provide relief from the industry’s current painful downturn. U.S. legislators are poised to lift restrictions on shipping domestic oil to overseas markets. This is expected to bring North American prices – which have been relatively depressed because of a continental glut – more in line with international benchmarks. With their export market largely confined to the United States, Canadian producers have also suffered from ... (full story)