Canadian heavy oil differential
13 Dec 2018 The region offers the best pricing for heavy crude, and also typically sets the price differentials. Since Canada's export pipelines are at capacity, 13 Feb 2020 The price of WCS at Hardisty is a Canadian heavy oil benchmark. these two benchmark prices is referred to as a differential and, on average, 31 Dec 2019 Houston — Western Canadian heavy crude differentials are likely to weaken in the first quarter of 2020 amid pressure from the IMO 2020 sulfur 24 May 2019 As oil price differentials rise, expect railway movements to hit new record highs of between 400000 bpd and 500000 bpd. What is the light-heavy price differential? In North Canada Select (WCS), a heavy, sour blend of crude oil originating in Alberta that serves as a benchmark. 8 Jan 2020 Those differentials suggest that Canadian oil is at high risk of a “blowout,” according to a report by Credit Suisse analyst Manav Gupta. Alberta's
1 May 2019 In 2018 the western Canadian heavy oil differential averaged $27 per barrel below the WTI price—more than double what it was in 2017.
Western Canada Select (WCS), the price obtained for many Alberta producers of oil, averaged US$44.70 a barrel in July 2019, 15.4 % lower than it was a year earlier. The differential of WTI over WCS was US$12.65 in July 2019. Basrah Heavy: 31.46 +0.65 +2.11% (2 days Delay) (2 days Delay) Saudi Arabia: Arab Extra Light: 31.88 +0.56 +1.79% (2 days Delay) (2 days Delay) Arab Heavy: 30.53 +0.56 +1.87% (2 days Delay) (2 The widening differentials suggest that Canadian oil is at high risk of a “blowout,” Credit Suisse analyst Manav Gupta said in a report this week. If the differential widens beyond $25 a barrel, the “Alberta government might be forced to step back in and raise the volumes on mandated cuts to control bloating inventory situation,” he said. The Canadian heavy oil differential narrowed against the West Texas Intermediate (WTI) benchmark on Tuesday:* Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, settled at $31.00 a barrel below the WTI benchmark crude futures , according to Shorcan Energy brokers. Yet despite the global recovery in energy prices, Canadian oil prices (WCS) went in the opposite direction, dropping to US$27. In other words, the average price difference between Canadian oil (WCS) and U.S. oil (WTI) in October was about US$43 per barrel, which represents a staggering discount of 61 per cent (of the U.S. crude price). According to economists at Scotiabank, Canada’s economy could lose up to $15.6 billion in 2018 because of the massive discounts on Canadian heavy oil. This estimate was done using a $24 USD differential per barrel. This differential is often referred to as the Canadian Heavy Oil Discount. In fact, most North American benchmarks trade in reference to the West Texas price. Aside from WCS, Canadian Light, also trades at a slight discount to WTI.
The price differential between Canadian heavy crude (Western Canada Select or WCS) and US crude (West Texas Intermediate or WTI) has widened substantially
WCS Houston: A new price signal for heavy crude at the US Gulf coast. Growing Canadian heavy crude output and new pipeline differentials to WCS. More Canadian barrels are in the world's best interest. Opportunity for Crude by rail positions us to benefit from Special Production WTI-WCS differential. The Shape I'm In - Western Canadian Crude Price Collapse And the widening WCS-WTI pricing differential is unlikely to be a short-term phenomenon.
20 Dec 2019 The regulator blames the decrease on narrower price difference between prices Western Canadian Select bitumen-blend oil in Alberta and U.S.
More Canadian barrels are in the world's best interest. Opportunity for Crude by rail positions us to benefit from Special Production WTI-WCS differential.
8 Jan 2020 Those differentials suggest that Canadian oil is at high risk of a “blowout,” according to a report by Credit Suisse analyst Manav Gupta. Alberta's
Heavy oil differential refers to the difference in weight, or gravity, of oil, and secondly to the resulting price differentials. The heavy oil differential affects oil producers because it determines the market price they can obtain for the oil they produce. Canadian heavy crude oil is priced off the Western Canadian Select ("WCS") benchmark, which has an average gravity of 20.5 degrees API. WCS trades at a discount to WTI due to the higher cost of refining WCS crude into refined products, such as gasolines, jet fuel, kerosene, and diesel. This discount is referred to as a heavy oil differential. Western Canada Select (WCS), the price obtained for many Alberta producers of oil, averaged US$44.70 a barrel in July 2019, 15.4 % lower than it was a year earlier. The differential of WTI over WCS was US$12.65 in July 2019. Basrah Heavy: 31.46 +0.65 +2.11% (2 days Delay) (2 days Delay) Saudi Arabia: Arab Extra Light: 31.88 +0.56 +1.79% (2 days Delay) (2 days Delay) Arab Heavy: 30.53 +0.56 +1.87% (2 days Delay) (2 The widening differentials suggest that Canadian oil is at high risk of a “blowout,” Credit Suisse analyst Manav Gupta said in a report this week. If the differential widens beyond $25 a barrel, the “Alberta government might be forced to step back in and raise the volumes on mandated cuts to control bloating inventory situation,” he said.
1 May 2019 In 2018 the western Canadian heavy oil differential averaged $27 per barrel below the WTI price—more than double what it was in 2017. Western Canadian Select (WCS) is the reference price for heavy crude oil from the oilsands delivered at Hardisty, Alta. Price differential: Canada’s heavy crude usually trades at a discount because of refining and transportation costs, so a price gap or differential is typical between WTI and WCS. The widening differentials suggest that Canadian oil is at high risk of a “blowout,” Credit Suisse analyst Manav Gupta said in a report this week. If the differential widens beyond $25 a barrel, the “Alberta government might be forced to step back in and raise the volumes on mandated cuts to control bloating inventory situation,” he said.