Source: Pete Evans, CBC News, December 13, 2017
Canadian oil selling for just $30 a barrel, even as West Texas Intermediate nears twice that price
The price gap between the price of Canada’s oil benchmark versus its U.S. equivalent, West Texas Intermediate, has widened to its biggest difference in almost four years, with Canadian crude now selling at a $25 discount.
The heavy oil coming out of Alberta’s oilsands is known Western Canada Select. It usually trades at a discount to the better known U.S. benchmark, West Texas Intermediate, in part because it is more difficult to process.
Image Source: Daniel Acker/Bloomberg
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