Wall Street Journal reports that Imperial Oil Ltd. (IMO) has reduced its purchase price for benchmark 40-degree gravity light crude oil at Edmonton by C$15 a cubic meter to C$470 a cubic meter, effective Monday.
The press release is quoted as saying:
In terms of barrels, the company is now offering C$74.73 a barrel, down from C$77.12. The new purchase price indicates an export price delivered to Chicago of about US$72.71 a barrel after considering transportation and import charges and foreign exchange rates.
