1. Almost all Canadian crude exports go to the U.S. 2. Also today, Shell Nigeria said it will delay crude exports due to civil unrest in Western Nigeria. 3. At the moment, Russia has commitments to OPEC under which it has undertaken to slash its crude exports. 4. Crude exports began again this morning at the Dos Bocas and Pajaritos ports, both closed since Saturday. 5. Crude oil prices also sagged, partly because of plunging gasoline and also because Iraqi crude exports are now again supplementing world supplies. 6. OPEC Leaves Oil Output Unchanged OPEC producers agreed to keep oil output limits unchanged as expectations rose for resumption of crude exports from Iraq. 7. Shell Oil Co. and Coastal Corp. cut output as bad weather in the Gulf of Mexico delayed some Mexican crude exports. 8. The advance in oil prices came amid optimism that demand for heating oil and gasoline are strong enough to offset crude exports from Iraq expected to begin next month. 9. The shortfall may lift demand for Canadian crude exports. 10. Traders expect the attack on Baghdad will delay the resumption of Iraqi crude exports that had been expected to bring prices down, analysts said. |