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- A barrel of the North American oil benchmark is changing hands for about $90 US a barrel right now, but the heavy crude that comes from Canada's oilsands is fetching $30 less because of a perfect storm of imbalances between supply and demand. The oil blend known as West Texas Intermediate (WTI) was going for about $87 a barrel on Thursday.
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What happened to the Canadian heavy oil discount in December?
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Dec 13, 2018 · Differentials Explained: Why Alberta crude sells at a deep discount | Oil Sands Magazine. There are hundreds of crude streams produced around the world, each selling at a different price. Although prices largely rise and fall together, discounts vary due to quality differences, marketability, and delivery costs to the final customer.
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Limited access to Canadian heavy crude, due primarily to...
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The changing seasons have an important impact on oil prices...
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Jun 8, 2022 · Analysis. 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...
Nov 14, 2017 · That’s why the Western Canadian Select (WCS) —representative of the price of oil from Canada’s oil sands delivered at Hardisty, Alberta—trades at a $10 or more discount to the WTI. But the...
Jul 22, 2018 · KEY FINDINGS. The US consumes about 20 million bbl/day of crude, accounting for 20% of world oil demand. The changing seasons affect fuel demand and product specifications, which in turn impacts oil prices. Differentials on Canadian light and heavy oil also follow the same seasonality pattern, compounding the effect.
Oct 14, 2022 · Business · Analysis. Price gap on heavy Canadian oil tops $30 per barrel, widest spread since 2018. Oil is going for $90 US a barrel right now. So why is Canadian oilsands crude going for under...
Jan 4, 2024 · CANADIAN HEAVY OIL DISCOUNT NARROWS. The December WCS discountto WTI averaged US$20 a barrel, down from US$25 in November. The heavy oil discount fell below US$20 at the end of December and declined to US$18.50 a barrel in the new year. The WCS differential began narrowing in November, as U.S. Midwest refineries began replenishing stockpiles.
Oct 21, 2022 · Journalistic standards. Comment. Report an error. © 2022 The Canadian Press. Oil from Western Canada is once again trading at a significant discount compared to global prices, and some...
