U.S. needs Canada’s oil as its own output rises: IEA

The United States will still need to import crude as production from the Bakken and other domestic shale oil regions rises, and Canada is a big potential source of such supplies, the International Energy Agency’s chief economist said on Monday.

However, Canada should keep pursuing Asia as the next major market for its growing supplies of oil sands-derived crude, the IEA’s Fatih Birol said.

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