February 6, 2013 / 7:04 PM / in 5 years

Canada says concerned by crude oil price discount

OTTAWA, Feb 6 (Reuters) - Canada is concerned by current discounted prices for Canadian oil, which affect government revenues and the growth of nominal gross domestic product, Finance Minister Jim Flaherty said on Wednesday.

Delayed pipeline projects and an excess of supply in crude-rich Alberta mean Canada is forced to sell some heavy crude at a deep discount to world prices.

“It is obviously a concern, not only in Alberta, but in our government ... it affects our budgeting because it affects commodities prices, obviously, which affect the level of nominal GDP, which affects federal revenues,” Flaherty told reporters after a speech.

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