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- Production costs can cause oil prices to rise or fall as well. While oil in the Middle East is relatively cheap to extract, oil in Canada in Alberta’s oil sands is more costly. Once the supply of cheap oil is exhausted, the price could conceivably rise, if the only remaining oil is in the tar sands.
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Jul 23, 2024 · Production costs can cause oil prices to rise or fall as well. While oil in the Middle East is relatively cheap to extract, oil in Canada in Alberta’s oil sands is more costly. Once...
Highlights of 2023. WTI: The West Texas Intermediate (WTI) price decreased by 18%, averaging US$77.62 per barrel (bbl) in 2023. The decrease was due to rising global inventories and concerns about the slow growth of global oil demand. WCS: The Western Canadian Select (WCS) price decreased by 22%, averaging US$58.97/bbl.
Apr 23, 2020 · That includes the impact on the oil market, where the benchmark price for U.S. oil dipped below $0 on Monday for the first time ever. But what does that mean for Canada and its oil-producing...
Sep 11, 2024 · At the end of August, the province's first-quarter fiscal update showed the Alberta government expects the average WTI price of oil to be $76.50 US, up $2.50 US a barrel than what was...
Apr 21, 2020 · The markets have been excessively volatile since the pandemic began, but on Monday the truly unthinkable happened — oil prices turned negative. Alberta's oilpatch history is full of ups and ...
With oil prices and oil demand rebounding and the impact of the Russian invasion of Ukraine, oil prices have increased sharply over the past twelve months, reaching over $120 a barrel earlier this year. As a result, Alberta’s oil producers have seen record levels of revenue.
Jun 28, 2021 · WCS prices are always lower than WTI prices for two reasons: Alberta oil is typically heavier and more sour than US oil, meaning it fetches a lower price generally. Secondly, Alberta has only very limited access to export markets outside the US—99% of our oil exports go south of the border.
