• 3 minutes Could EVs Become Cheaper than ICE Cars by 2023?
  • 6 minutes Your idea of oil/gas prices next ten years
  • 12 minutes WTI Heading for $60
  • 3 hours Is California becoming a National Security Risk to the U.S.?
  • 10 hours At U.N. climate talks, US Administration Plans Sideshow On Coal
  • 11 hours Plastic Myth-Busters
  • 5 hours A Sane Take on Nord Stream 2
  • 12 hours Good Sign for US Farmers: Soybean Prices Signals US-China Trade Deal Progress
  • 6 hours I Believe I Can Fly: Proposed U.S. Space Force Budget Could Be Less Than $5 Billion
  • 19 hours Soybean sale to China down 94%
  • 18 hours what's up with NG?
  • 10 hours UK Power and loss of power stations
  • 10 hours OPEC Builds Case For Oil Supply Cut
  • 2 days Starbucks slashing its corporate workforce
  • 2 days New Oil Order- Diplomacy, Geopolitics and Economics
  • 2 days Pros and Cons of Coal
Alt Text

Can OPEC Halt An Oil Market Meltdown?

Both OPEC and non-OPEC supply…

Alt Text

Latest Oil Price Slump Was ‘Made In America’

Citigroup’s Ed Morse has said…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Trending Discussions

$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.…

To read the full article

Sign in for free as an Oilprice member and gain access to this premium content.

RegisterLogin

Trending Discussions


Leave a comment

Leave a comment




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