November 01, 2023 19:14 GMT
Canadian Light Oil Prices Fall as Upgraders’ Resume Operations
Prices for synthetic crude oil in Alberta have moved from a 75 cents/b premium over WTI to a $3.95/b discount, according to Bloomberg, the widest discount since December 2021.
- In addition, conventional mixed sweet crude’s discount to WTI deepened to $8/b, the largest discount since April 2020.
- Prices have softened as upgraders come out of maintenance and ramp up operations amid limited space on export pipelines.
- Synthetic crude is produced by running oil sands through an upgrader.