Why is Western Canadian Select cheaper?
An important benchmark price in Canada is known as Western Canada Select (WCS). Since the oil in WCS is much heavier than WTI (which is a light oil), and further away from main markets, WCS is priced at a further discount to WTI. Other oil streams produced from the oil sands are also priced at a discount to WTI or WCS.
What is the price of Western Canada Select?
Oil Price Charts
| Futures & Indexes | Last | Last Updated |
|---|---|---|
| Western Canadian Select | 53.99 | (4 Hours Delay) |
| Dubai | 73.69 | (2 Days Delay) |
| Brent Weighted Average | 75.52 | (2 Days Delay) |
| Louisiana Light | 73.83 | (2 Days Delay) |
What is the WCS differential?
The differential between Western Canadian Select (WCS), Canada’s primary heavy sour export crude blend, and WTI recently spiked to a pandemic-era high of US$21 per barrel after more than a year of tight spreads and relative stability.
Why are Brent and WTI prices different?
Why is Brent crude more expensive than WTI? Simply put, the preference for Brent crude today stems from the fact that it may be a better indicator of global oil prices. Brent essentially draws its oil from more than a dozen oil fields located in the North Sea.
Will Alberta oil recover?
Antunes points out investment levels in Alberta are coming off “rock-bottom levels” last year. Yet, with oil hovering around $70 a barrel, the industry is highly profitable — and Alberta is primed and ready for the economy to bounce back in the latter half of the year and into 2022.
What are oil differentials?
A ‘differential’ occurs when a producer receives a lower price for their oil relative to one of the international benchmark standards. This differential is based on additional costs to the refineries such as transportation and the extra cost to process heavy and/or sour oil.
What is the stock symbol for Western Canadian Select?
WESTERN CANADIAN SELECT OIL INDEX (NYMEX:QWCW)
How much is Alberta oil selling for?
WCS Oil ($US/bbl)
| September | JAN – Sep (AVERAGE) | |
|---|---|---|
| Trend | 2020 | % CHANGE |
| $31.17 | 113.6% | |
| Source: Alberta Energy (Jan 2009 to present) |
What are WTI and WCS?
“West Texas Intermediate Crude oil (WTI) is a benchmark crude oil for the North American market, and Edmonton Par and Western Canadian Select (WCS) are benchmarks crude oils for the Canadian market. Both Edmonton Par and WTI are high-quality low sulphur crude oils with API gravity levels of around 40°.
What is OPEC basket price?
The OPEC Basket is a weighted average of oil prices from the different OPEC members around the world. Members of the Organization of the Petroleum Exporting Countries (OPEC) contribute data that forms the basis of the basket.
Is Alberta’s economy in trouble?
By 2019—five years later—Alberta was still in recovery. Overall, there were approximately 35,000 jobs lost in mining, oil and gas alone….Economy of Alberta.
| Aerial photo of oilfield roads and drill sites in the Pembina Oil Field, 2008. | |
| Currency | Canadian dollar (CAD, C$) |
| Fiscal year | April 1 – March 29 |
| Statistics | |
|---|---|
| Population | 4,421,876 (2020) |