Crude Oil Export Plunge Widens Canada Trade Deficit
This article is for subscribers only.
Canada’s oil shipments plunged in November, triggering the biggest export drop in almost three years and widening the national trade deficit.
Shipments of crude oil and bitumen dropped 9.9 percent to C$6.9 billion in November, the biggest decline since February 2011, Statistics Canada said today from Ottawa. Prices fell 6.7 percent and volumes by 3.4 percent. It was the sixth straight monthly decline in energy shipments.