Search results
- The type of oil that comes from Canada's oilsands is known as Western Canadian Select and it, too, has seen its price plunge in the current economic climate. WCS typically trades at a discount to WTI since it is harder to transport and refine, and the sell off in WTI's price has pushed the price of WCS functionally below zero, too.
People also ask
Is Western Canada Select oil in negative territory?
Is Western Canada's oil price at a negative price?
Is Western Canadian Select based on a complicated formula?
What is Western Canadian Select?
Apr 21, 2020 · Still, for now, oil in negative territory? It's exceptional. Alberta was already projecting a deficit of $6.8 billion this year and that was based on WTI at $58 per barrel. When the budget...
- Natural Gas Industry In
Natural gas prices have slumped for several years in Western...
- Natural Gas Industry In
- What Is Western Canadian Select?
- How Is WCS Traded?
- Did WCS Really Trade at A Negative Price Per Barrel on Sunday?
- Is It Possible For WCS to Trade at A Negative Price?
WCS is a crude oil blend created with oilsands bitumen at the Hardisty, Alta., marketing hub. Only four firms produce WCS — Canadian Natural Resources Ltd., Suncor Energy Inc., Cenovus Energy Inc. and Repsol — but other local crude blends are priced based on WCS, so its influence extends beyond its usual volume of 350,000 to 400,000 barrels per day...
Trading for commodities such as crude oil operates based on contract prices, typically for delivery in a given month. The case of WCS is slightly more complicated: buyers agree to pay a price based on a discount to North American benchmark West Texas intermediateoil (to account its for being farther from market and of lower quality). New York-trade...
Probably not, but we won’t know for sure until April 30. The negative WCS price was apparently calculated by subtracting the WCS differential from the daily WTI price. But the average for WTI in the month to date was US$24.70 per barrel. Minus the differential of about US$14 leaves about US$11 per barrel for WCS. Not great — but not negative.
Yes it is, if the differential is higher than the average price. In the current case, that wouldn’t be known until the end of the month. READ MORE: Energy companies continue job cuts amid low oil prices, COVID-19 pandemic
Apr 20, 2020 · Oil price goes into negative territory as traders get squeezed running for the exits. What is Western Canadian Select? WCS is a crude oil blend created with oilsands bitumen at the...
Apr 23, 2020 · Alberta Premier Jason Kenney over the weekend released a tweet warning WCS is “now trading at negative prices,” with an illustration showing the price as minus one cent US.
Jun 30, 2016 · 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.
Apr 21, 2021 · Masson said a unique set of circumstances around oil futures contracts created the conditions for oil prices going into negative territory that day.
Apr 20, 2020 · “Western Canadian Select oil is now trading at negative prices. Killing & delaying pipelines landlocked us. #Covid19 collapsed demand. The Russian-Saudi price war surged supply, filling up inventories. The future of hundreds of thousands of Canadian jobs is at stake,” he tweeted early Monday morning.
