IHS Markit

America in Focus

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Amid collapsing demand and fast-rising stockpiles, pressure continues to spread across North American oil markets. For the third time in the past half-decade, the price of heavy oil in western Canada is collapsing. This price rout has the potential to be the most severe and protracted, even for battle-hardened Canadian producers, leading to renewed questions about the cost of western Canadian supply and impacts on production.