Oil Price Puts Pressure on Canadian Dollar | Presented by CME Group

Canada is the fourth largest oil producer in the world and the biggest crude exporter to the United States. But it doesn't have a strategic petroleum reserve. Canada is a net exporter and under IEA rules, net exporters are exempt.That means no government stockpile to cushion price swings. The looney takes the full force of whatever is happening in crude markets right now. That's working in Canada's favor.With Middle East disruptions keeping oil above 90, higher export revenues flow straight into the terms o ...