A dramatic narrowing in the price discount for western Canadian heavy crude should mean healthy profits for oilsands producers. Read more.
remained under pressure in the second quarter, with the benchmark West Texas Intermediate down three per cent from the first quarter of the year and benchmark Brent crude down five per cent.
It’s normal for a barrel of heavy, sour oilsands bitumen to sell for less than a barrel of higher-quality, light sweet product. In 2018, when a lack of pipeline capacity out of this country led to a glut of inventory, the WCS discount widened to as high as US$50 per barrel and took a bite out of the Canadian sector’s profitability.
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Narrowed price discount for heavy crude in Q2 expected to boost profitsA dramatic narrowing in the price discount for western Canadian heavy crude should mean healthy profits for oilsands producers. Read more.
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