• Sign up for the Daily Digest E-mail

BOE Report

  • Home
  • Headlines
    • Canada
    • USA
    • Columns
    • Discussions
  • Plays
    • Cardium Sandstone
    • Duvernay Shale
    • Montney Shale
    • Shaunavon
    • Viking Sandstone
    • Williston Basin
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Database
  • Markets
    • Canada Market Quotes
    • USA Market Quotes
    • Canada Well Licences
    • Canada Rig Count
    • USA Rig Count
    • USA Market Data
  • Advocacy
  • Data
  • Jobs

Heavy crude differential widens slightly

November 15, 20183:25 PM Reuters0 Comments

The Canadian heavy oil differential widened slightly against the West Texas Intermediate (WTI) benchmark on Thursday:

* Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, traded on Thursday afternoon at $41.75 a barrel below WTI crude futures , wider than Wednesday's settle of $41.55, according to Shorcan Energy brokers.

* The recent widening and narrowing of the differential reflects volatility in global markets, including recent talk of an OPEC production cut, a Calgary-based trader said.

* Canadian crude discounts relative to WTI should remain wide even after a maintenance period for U.S. Midwest refineries ends this year, Cowen analyst Jason Gabelman said in a note. Restarted Syncrude operations and expanding production in Canada and the United States are keeping pipelines full, he said.

* Several crude producers, including Canadian Natural Resources and Cenovus Energy , announced curtailed production in recent weeks, amounting to some 130,000 to 145,000 barrels per day of heavy oil through the fourth quarter.

* Oil futures rose on Thursday, steadying after this week's steep losses as fuel stockpile declines in the United States helped offset concerns about a potentially oversupplied market next year.

(Reporting by Rod Nickel in Winnipeg; Editing by Sandra Maler)

Canadian Natural Resources Cenovus Syncrude

Follow the BOE Report
  • linkedin
  • facebook
  • twitter
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Mexican president announces bailout for cash-strapped Pemex
  • Canada Weekly Rig Count Down 16 to 224
  • U.S. drillers add oil rigs for second week in a row
  • Natural gas liquids processing gains drive profit increase at Inter Pipeline
  • Full pipelines, new services propel Enbridge to street-beating $1.17B income

Return to home page
OSY Rentals

About
  • About BOEReport.com
  • In the News
  • Terms of Use
  • Privacy Policy
Resources
  • App
  • Widgets
  • Desktop
  • Daily Digest E-mail
Get In Touch
  • Advertise
  • Post an Announcement
  • Post a Job
  • Contribute
  • Contact
Featured In
  • CamTrader
  • Rigger Talk
BOE Network
Copyright © 2019 Grobes Media Inc.