March 12, 2019 / 3:08 PM / 12 days ago

CERAWEEK-Canadian crude by rail uneconomic amid output cuts -Suncor exec

HOUSTON, March 12 (Reuters) - Canada’s mandated oil production cuts are preventing Suncor Energy Inc, one of Canada’s biggest oil producers, from sending its heavy crude to the U.S. Gulf Coast by rail, a company official said in an interview on Tuesday.

The Canadian oil producer is “interested in rail economics going forward,” but the rise in Canadian heavy crude prices since the December mandated production cuts have made rail shipments “difficult to justify,” said Steve Reynish, a Suncor executive vice president, at CERAWeek conference. (Reporting by Collin Eaton Editing by Chizu Nomiyama)

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