Western Canada Select – Follow To Know

Canadian Crude Oil Industry In Crisis As Prices Plunge To Record Low | CTV News

November 16, 2018November 16, 2018 mdbincbi

The Canadian crude oil industry has declared a national emergency after prices plunged to record lows. The American benchmark price for oil is now well below $60 a barrel, having dropped $20 in the last six weeks. While that’s good news for prices at the pump, it’s causing misery for producers. The price of The price of Western Canadian Select closed just under $14 a barrel Thursday. The crisis has been blamed on a surplus of product and not enough pipeline to move it. Read full story here: Canadian Crude Oil…

Canadian Oil Selling At A Deep Discount – And It Hurts – Business – CBC News

January 20, 2018 mdbincbi

North American oil prices are marching toward $65 US a barrel this month, giving the industry a boost after the market collapsed three years ago. The oil sector hasn’t seen these prices since late 2014, but most companies in Alberta are receiving significantly less, just above $40 US a barrel. The Alberta oilpatch continues to increase oil production, but as pipelines fill up, companies are receiving less money for their oil compared to the rest of the continent. While there is always a gap between the North American benchmark, West Texas Intermediate (WTI),…