Canada’s Oil Prices To Rise As Mexican Heavy Crude Supply Falls

The benchmark price of Canada’s oil sands is expected to strengthen next year amid lower supplies of Mexican heavy crude oil to the United States, BMO Capital Markets said in a report carried by Bloomberg. Western Canadian Select (WCS)—the benchmark price of oil from Canada’s oil sands delivered at Hardisty, Alberta—has seen its discount to WTI Crude at around US$10 a barrel in recent months, even after Canadian oil producers restored most of the production they had curtailed in April and May, when oil demand and oil prices…