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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 prices saw further gains this week as tensions in the Middle East escalated, propelling WTI crude to around US$87 a barrel, while the global benchmark, Brent, approached US$91, nearing its highest level since October.
Sep 21, 2023 · Surging oil prices in the months ahead will likely make efforts by the Bank of Canada and other central bankers to get inflation under control more challenging.
Jun 8, 2022 · Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's the...
Jun 4, 2024 · Oil prices continued their slide on Tuesday on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.
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.
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Apr 3, 2024 · Calgary, April 3, 2024 – Global crude oil prices should remain relatively stable in 2024 but prices for Canadian producers are expected to rise once the Trans Mountain Expansion (TMX) pipeline project starts operating later this year, according to the latest forecast from Deloitte Canada’s Resource Evaluation and Advisory (REA) group.
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