28MAY2019 - NEWS - Oil Market Dislocations Reduce US Refiner IMO 2020 Benefit

Dislocations in oil markets are dampening the outlook for light-heavy crude spreads and value US refiners expected from International Maritime Organization (IMO) 2020 emission standards but Canadian exploration and production (E&P) companies are benefiting, says Fitch Ratings. US sanctions on Iran and Venezuela and inadequate Canadian pipeline infrastructure resulting in Alberta’s oil curtailment have been disruptive.