Syncrude cuts December production volumes-sources
CALGARY, Alberta Dec 5 (Reuters) - Syncrude Canada Ltd has cut forecast production volumes for December due to the impact of cold weather on some equipment, a move that has helped push up Canadian light synthetic oil prices, market sources said on Wednesday.
Syncrude has told customers that output at the Northern Alberta oil sands operation will be 400,000 barrels less than expected for the month, according to the sources.
Officials with Canadian Oil Sands Ltd, the largest interest owner in the Syncrude Canada joint venture, were not immediately available to comment.
Light synthetic crude was quoted in a range of 75 cents to $1.20 a barrel over benchmark West Texas Intermediate, having strengthened each day this week, according to Shorcan Energy Brokers. Last month, the crude, derived from the tar sands, sold at a discount to WTI.
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