UPDATE 1-Syncrude cuts December production volumes - sources

Wed Dec 5, 2012 3:26pm EST
 
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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.

Alison Trollope, spokeswoman for Canadian Oil Sands Ltd , the largest interest owner in the Syncrude joint venture, declined to comment, saying the company provides updates on operations only if they are expected materially to affect its outlook.

Light synthetic crude was last quoted at $1.40 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.