The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged wider on Thursday:
* WCS for January delivery in Hardisty, Alberta, settled at $12.55 a barrel under the WTI benchmark on Thursday, according to brokerage CalRock, having settled at $12.45 a barrel under the U.S. benchmark on Wednesday. * Three of Canada’s biggest oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on resilient demand for Canadian crude in U.S. and international markets.
* Global oil prices settled close to unchanged, pressured by a forecast for ample supply in the oil market but supported by rising expectations of a Federal Reserve interest rate cut.
(Reporting by Nia Williams in British Columbia; Editing by Sumana Nandy)