Canada Oil Strongest in a Year as Refiners Boost Operations
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Canadian crude prices are at their strongest in almost a year as U.S. refiners increase production just as oil sands operations shut for maintenance.
U.S. imports of Canadian crude fell last week as refiners ran at their highest rates in almost three months, according to Energy Information Administration data. Oil sands producers including Suncor Energy Inc., Royal Dutch Shell Plc and Syncrude Canada Ltd. plan “bigger than normal” maintenance shutdowns this month and next, Genscape Inc. said.