Tag Archive: High Noon on the Gulf Coast: Canada

on January 7, 2015 in World News

High Noon on the Gulf Coast: Canada, Saudi oil set for showdown

High Noon on the Gulf Coast: Canada, Saudi oil set for showdown As a test of wills between OPEC nations and U.S. shale drillers fuels a global oil market slump, a brewing battle between Canadian and Saudi Arabia heavy crudes for America’s Gulf Coast refinery market threatens to drive prices even lower. While the stand-off between the oil cartel and U.S. producers of light, sweet shale oil has captured the limelight in recent months, the clash over heavier grades – playing out in the shadowy, opaque physical market – may put even more pressure on global prices that have halved… View Article

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