Western canadian select crude oil differential
Price differential between Western Canadian Select and West Texas Intermediate Crude is $35.15 US per barrel. As a result of the differential, oil producers around the country are getting far less for their oil than others do, including Saskatchewan producers. According to data reported by Oil Sands Magazine, in October, on average, Brent crude, a global benchmark, rose to US$81 while WTI, a benchmark for U.S. oil prices, surpassed US$70. Yet despite the global recovery in energy prices, Canadian oil prices (WCS) went in the opposite direction, dropping to US$27. Alberta oil producers are dealing with a brutal oil differential that’s costing Canada billions of dollars in lost revenue. Premier Rachel Notley called it a “very serious problem” Thursday when the price for Western Canadian Select (WCS) heavy crude reached a record low, at one point dropping below US$14. Western Canadian Select is now trading below $14 a barrel. Canada’s heavy crude hits record low as oil patch troubles intensify widening the widely tracked differential between the WCS The benchmark price for western Canadian heavy oil is Western Canadian Select (WCS). Generally, the differential between WTI and WCS is between $10-$15 US/bbl. Between January and November of 2017, the average WCS-WTI differential was $11.79 US/bbl, according to Alberta’s provincial government. King said Western Canada Select, a blend of heavy oil barrels, was trading at a discount of US$34.50 per barrel at mid-day on Wednesday, or roughly half of WTI prices. Some WCS contracts have traded at a US$40-per barrel discount to WTI
Spot trade of Canada's Western Canadian Select (WCS) crude at. Cushing ICE launched the Argus WCS (Cushing) Crude Oil Future to allow for hedging of this ing month and trade at a differential to the concurrent WTI month not.
WCS is one of North America’s largest heavy oil blends and is comprised of: Non-upgraded bitumen produced from the oil sands in Alberta. 20 heavy conventional oil streams produced in Western Canada. Upgraded bitumen, also known as light synthetic crude oil (SCO) usually from mining facilities. When the differential between Brent and Alberta crude is very high, it makes sense to buy crude in Western Canada and ship to Eastern Canada by rail. But that discount needs to be very wide to make the economics work, given the 4,500 km distance between Edmonton and Irving Oil’s 300,000 bbl/day refinery in New Brunswick, Canada’s largest refinery and biggest importer of foreign crude. Western Canada Select (WCS), the price obtained for many Alberta producers of oil, averaged US$44.70 a barrel in July 2019, 15.4 % lower than it was a year earlier. The differential of WTI over WCS was US$12.65 in July 2019. Western Canadian Select (WCS) Crude Oil Futures Quotes Globex. All market data contained within the CME Group website should be considered as a reference only and should not be used as validation against, nor as a complement to, real-time market data feeds.
In Canada, the two most common benchmarks are Western Canadian Select (WCS) and Canadian Light Sweet (CLS), formerly known as Edmonton Par. WCS is a blend of diluted bitumen and conventional heavy oil priced out of Hardisty, Alberta. CLS is a basket of light sweet crude priced out of Edmonton, Alberta.
30 Sep 2019 oil producers to make the economics of crude by rail movement work when. Western Canadian Select (WCS) to WTI differentials are narrow. 4 Jan 2018 Unlike other benchmark crudes, WCS Crude Oil Futures Contracts, which trade on the CME, reflects the differential to WTI, and not the actual 7 Dec 2018 This week's rally has resulted in a significant narrowing of the price differential between WCS and West Texas intermediate, the U.S. benchmark.
The price of Western Canadian Select (WCS) crude oil (petroleum) per barrel suffers a differential against West Texas Intermediate (WTI) as traded on the New York Mercantile Exchange (NYMEX) as published by Bloomberg Media, which itself has a discount versus London-traded Brent oil.
3 Nov 2014 If WCS prices are at $70 US per barrel that means that heavy oil The Market is predicting that the WCS “differential”, or discount, will stay low. In fact, the world crude oil market is all about investor anticipation of supply and demand, and oil prices are very volatile and highly influenced by consumer and The price of Western Canadian Select (WCS) crude oil (petroleum) per barrel suffers a differential against West Texas Intermediate (WTI) as traded on the New York Mercantile Exchange (NYMEX) as published by Bloomberg Media, which itself has a discount versus London-traded Brent oil. Western Canadian Select is Canada's largest heavy crude oil stream, comprised of bitumen, conventional oil, synthetic crude and condensate. Learn more about this unique benchmark crude produced exclusively in Western Canada. There are dozens of different crude oil streams produced in Western Canada, each with varying degrees of quality and grade. WCS is one of North America’s largest heavy oil blends and is comprised of: Non-upgraded bitumen produced from the oil sands in Alberta. 20 heavy conventional oil streams produced in Western Canada. Upgraded bitumen, also known as light synthetic crude oil (SCO) usually from mining facilities. When the differential between Brent and Alberta crude is very high, it makes sense to buy crude in Western Canada and ship to Eastern Canada by rail. But that discount needs to be very wide to make the economics work, given the 4,500 km distance between Edmonton and Irving Oil’s 300,000 bbl/day refinery in New Brunswick, Canada’s largest refinery and biggest importer of foreign crude.
In September 2019, the average monthly price of the Canadian oil benchmark Western Canadian Select (WCS) was 44.39 U.S. dollars per barrel. WCS is a heavy sour blend of crude oil, produced exclusively in Western Canada.
Canadian heavy crude oil is priced off the Western Canadian Select ("WCS") benchmark, which has an average gravity of 20.5 degrees API. WCS trades at a discount to WTI due to the higher cost of refining WCS crude into refined products, such as gasolines, jet fuel, kerosene, and diesel. This discount is referred to as a heavy oil differential. Western Canadian Select: 16.10-1.48-8.42% (2 days Delay) (2 days Delay) Dubai: 33.75-2.33-6.46% (3 days Delay) (3 days Delay) Brent Weighted Average: 33.53-3.36-9.11% (3 days Delay) (3 days Delay) In Canada, the two most common benchmarks are Western Canadian Select (WCS) and Canadian Light Sweet (CLS), formerly known as Edmonton Par. WCS is a blend of diluted bitumen and conventional heavy oil priced out of Hardisty, Alberta. CLS is a basket of light sweet crude priced out of Edmonton, Alberta.
In September 2019, the average monthly price of the Canadian oil benchmark Western Canadian Select (WCS) was 44.39 U.S. dollars per barrel. WCS is a heavy sour blend of crude oil, produced exclusively in Western Canada. An important benchmark price in Canada is known as Western Canada Select (WCS). WCS rep-resents a stream of conventional heavy (high viscosity) oil mixed with some blends of bitumen and diluents. Canadian heavy crude oil is priced off the Western Canadian Select ("WCS") benchmark, which has an average gravity of 20.5 degrees API. WCS trades at a discount to WTI due to the higher cost of refining WCS crude into refined products, such as gasolines, jet fuel, kerosene, and diesel. This discount is referred to as a heavy oil differential. Western Canadian Select: 16.10-1.48-8.42% (2 days Delay) (2 days Delay) Dubai: 33.75-2.33-6.46% (3 days Delay) (3 days Delay) Brent Weighted Average: 33.53-3.36-9.11% (3 days Delay) (3 days Delay) In Canada, the two most common benchmarks are Western Canadian Select (WCS) and Canadian Light Sweet (CLS), formerly known as Edmonton Par. WCS is a blend of diluted bitumen and conventional heavy oil priced out of Hardisty, Alberta. CLS is a basket of light sweet crude priced out of Edmonton, Alberta. But in Alberta, Western Canada Select is stuck at $35 US per barrel. The divide between WCS and WTI has never been larger, according to Martin King, commodities analyst with Calgary's GMP FirstEnergy.