National Newswatch

As oil from Alberta and Saskatchewan continues to sell at record discounts, American refineries are enjoying lucrative profit margins at the expense of Canadian oil producers.

The sharp drop in oil prices began in late September and is expected to continue for roughly another month.

The culprit is limited export pipeline space and refinery maintenance outages in the U.S. Midwest. Until those refineries are back up and running, oil prices in Western Canada will languish and so, too, will company revenues and government royalties.

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