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May 24, 2024 · WCS oil price. Oil prices are measured in US dollars per barrel as reported by Western Canada Select (WCS), the price obtained for many Alberta producers of oil, and West Texas Intermediate (WTI), a world reference price usually quoted in the media.
- Oil prices and value
The price a producer receives for a barrel of oil depends on...
- Oil prices and value
The price a producer receives for a barrel of oil depends on the type of oil, where it’s produced, and where it is sold. Price fluctuations also occur due to changes in market demand and supply. It is important to consider the following information when discussing the price of crude oil in Alberta.
Prices are based on daily closing prices posted on NYMEX in US dollars per barrel. Prices are converted to Canadian dollars per cubic metre using the Bank of Canada’s daily noon exchange rate and applying a volumetric ratio (6.29:1) to convert the price per barrel to a price per cubic metre.
Western Canadian Select (WCS) is the most important oil price index in Western Canada. The price received by Canadian oil producers is often based on WCS. Limited transportation infrastructure causes a large discount in WCS in relation to West Texas Intermediate (WTI).
Oil par prices. The following par prices are used to determine the royalty volume payable to the Crown.
Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison tools and smart...
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Base-price case WTI: The forecast average price is US$76.00/bbl in 2024, strengthening to US$77.00/bbl in 2025. The price is expected to increase to US$83.63 in 2033. Low-price case WTI: The forecast is US$46.47/bbl in 2024 and projected to be US$46.45/bbl in 2033.
