Cenovus sees oil price gap widening
Increasing supplies will see the discount on Western Canadian heavy oil grow once again by the third quarter of this year, says Cenovus Energy Inc., as the oil giant moves to using rail to transport oil sands crude by 2014.
“All things taken as a whole, we’re expecting that supply will increase somewhat more than demand, which will result in somewhat wider differentials,” chief executive Brian Ferguson said in an interview following the release of the company’s first quarter results on Wednesday
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