• 3 minutes War for Taiwan?
  • 7 minutes How China Is Racing To Expand Its Global Energy Influence
  • 10 minutes Is it time to talk about Hydrogen?
  • 1 min U.S. Presidential Elections Status - Electoral Votes
  • 47 mins Locked Thread on the election
  • 9 hours “Consumers Will Pay For Carbon Pricing Costs” by Irina Slav
  • 2 days can Trump pardon himself?
  • 1 hour British PM Eyes Banning Gasoline and Diesel Car Sales
  • 12 hours Censorship in USA
  • 10 hours Michael Moore Cranking Up Planet of the Humans Again
  • 1 day WTI / ​​​​​​​Price Forecasting 
  • 2 days Renewables deprogramming
  • 1 day CREO Syndicate – Ultrawealthy & Oil-igarchs Multi-Trillion Investments on Climate & Green
  • 23 hours Conoco Pledges ‘Net-Zero’ Emissions in Break With U.S. Rivals
  • 15 hours San Francisco Imposes Natural Gas Ban

Breaking News:

Goldman Speculates On The Future Of OPEC

IEA: Return Of Lockdowns To Cut Oil Demand

IEA: Return Of Lockdowns To Cut Oil Demand

The renewed lockdowns in major…

China Is Rapidly Expanding Its Oil Resources In Africa

China Is Rapidly Expanding Its Oil Resources In Africa

As China’s demand for energy…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

$20 Canadian Oil Could Last Another Year

As the biggest Canadian oil producers reported Q3 earnings in the past two weeks, analysts were more interested in the companies’ expectations about takeaway capacity rather than earnings, due to the record-wide price differential of Canada’s heavy oil to WTI.  

Acknowledging that the record low prices of Western Canadian Select (WCS)—the benchmark price of oil from Canada’s oil sands delivered at Hardisty, Alberta—is an anomaly on the market, many of the biggest oil producers in Canada expect some relief to come in the short term with U.S. refineries returning from maintenance this quarter and with crude-by-rail shipments to the U.S. continuing to set new records in the coming months.  

Despite these short-term eases in capacity constraints, Canadian oil producers pin their hopes on at least one pipeline (Enbridge Line 3) out of Canada going into service at the latter half of 2019, to further alleviate bottlenecks and return the WCS prices to their normal discount to WTI.

With WCS selling for as low as US$20 in recent weeks, some of Canada’s producers curtailed heavy oil production in Q3 and some struck agreements with rail companies to transport their crude to the U.S. market. Operations and expectations at each of the companies vary, but their collective underlying message in Q3 earnings calls was that although some relief could be coming soon, high differentials may persist until pipelines come into service.…





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News