Instruments Correlated to Crude Oil. The oil price usually has a notable effect on the currencies of some of the countries that are, to a large degree, dependent on oil production and exports. A good example of such a country is Canada, which exports most of its petroleum products to the United States. transport Canadian crude to US destinations has forced increased shipments by rail. Ac-cording to data provided by the NEB, crude oil exports by rail have steadily increased since March 2018 and reached a record 353,789 barrels per day in December (NEB, 2019). Of course, those Canadian oil producers that have

Current crude oil export restrictions date back to the 1970s, during an era of U.S. oil price controls that motivated producers to export and sell crude oil at unregulated world prices. 12 In response, crude oil, petroleum products, and natural gas liquids were placed on the Commodity Nov 03, 2014 · However, since April, crude exports have included modest amounts of Canadian-produced barrels that were moved through the United States and then re-exported to Switzerland, Spain, Italy, and Singapore, according to EIA. To export crude oil from the United States, a company must obtain a license from the Bureau of Industry and Security (BIS)...