Canadian Oil Sands Producers Receiving Less Than $40/Barrel

Link to Mining.com.

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.

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.

That link provided by Independent Stock Analysis. Go to the link for several other energy articles.

The article at ISA regarding an Obama appointee is particularly interesting.

Earlier this month I posted a prediction regarding production.