• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Heavy discount narrows on tight supplies after curtailments

June 10, 202012:22 PM Reuters0 Comments

Oil Pump JackCanadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as recent curtailments kept supplies tight and producers were slow to restore production.

“It appears we’re in a bit of a cautious restart mode at present,” said Tudor Pickering Holt & Co analyst Matt Murphy, noting that production facilities Kearl and Syncrude are in turnaround.

Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $8.60 per barrel below WTI, according to NE2 Canada Inc, narrower than Tuesday’s settle of $9 under.

Light synthetic crude from the oil sands was trading at $2.75 under, after Tuesday’s settle of $3 under.

A crash in global oil prices in March and April led to curtailments around the world, including an estimated 1 million barrels per day in Alberta. Prices have since improved.

Global oil prices recovered their earlier losses even as U.S. data showed crude inventories rose to a record high, reviving worries of a persistent glut due to weak demand.

Syncrude

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Canada unveils GHG reduction credits to boost carbon trading market
  • Canada’s weekly rig count drops 5 to 172
  • AER suspends SanLing Energy Ltd.’s operations
  • U.S. drillers add oil and gas rigs for second week in a row
  • Tamarack Valley Energy upsizes previously announced financing

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.