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Stock impact report

Canadian oil firms lament output cuts as rail volumes slip 4:37pm EDT [Reuters]

Suncor Energy Inc. (SU) 
Last suncor energy inc. earnings: 2/5 07:15 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
Company Research Source: Reuters
Canadian oil firms lament output cuts as rail volumes slip | Reuters 4 Min Read HOUSTON (Reuters) - Some Canadian oil executives blame higher crude prices from mandated production curbs for hurting their refining margins and depressing shipments of Alberta crude to U.S. customers. The government of Alberta last year mandated output cuts of 325,000 barrels per day (bpd) to help alleviate a supply glut that had weighed on crude prices and earnings of Canadian producers. Many in the industry had praised the move as prices rose. But other Canadian companies including Husky Energy Inc and Suncor Energy Inc that both produce and refine oil into fuel had benefited from cheap feedstock for their refineries. Executives at an energy industry this week said falling rail shipments to the United States are one of the “unintended consequences” of the output cuts as rising Canadian prices make transporting by rail less attractive. Canadian crude by rail shipments have fallen despite rising U.S. dema Show less Read more
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