On Tuesday the price oil sands producers receive fell to $39.40 a barrel below the international benchmark after the spread to US crude widened 12% overnight.That link provided by Independent Stock Analysis. Go to the link for several other energy articles.
Western Canada Select – a blend of heavy oil sands crude and conventional oil – now trades at a $26.50 discount to US benchmark West Texas Intermediate (WTI) which itself is $13 cheaper than the global reference futures contract ICE Brent Crude.
The deepening discount is a double blow to Alberta's producers which now receive an effective $52.25 a barrel for bitumen-derived oil.
The article at ISA regarding an Obama appointee is particularly interesting.
Earlier this month I posted a prediction regarding production.
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