Canada is finding new customers for its Newfoundland oil.
For years, large volumes of oil produced off Canada’s eastern coast were shipped to U.S. refiners. But booming U.S. output has cut the demand from nearby refineries. Newfoundland’s oil exports to countries other than the U.S. are already up 59 percent compared to all of last year, totaling almost 23 million barrels, according to data compiled by Bloomberg. The number of non-U.S. recipients has grown to 14 countries from just 6.
