Heavy Oil Crunch Could Drive Up Shipping and Construction Costs

A limited supply of heavy crude is pushing up heavy crude oil prices and refining costs globally, which could raise costs for shipping and road construction this summer, analysts told Reuters. Recent export cuts from Mexico and the imminent start-up of the expanded Trans Mountain Pipeline in Canada – pushing more of Canada’s heavy crude to the Pacific instead of the Atlantic basin – are adding to existing supply tightness in the global heavy crude market.     The crude supply cuts from the OPEC+ group are limiting…