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An expert panel says it’s unlikely the dramatic improvement seen in western Canadian oil prices since Alberta announced forced production curtailments two weeks ago will continue after the cuts begin on Jan. 1, 2019. (Larry MacDougal/Canadian Press) It’s unlikely a dramatic improvement in western Canadian oil prices since Alberta announced forced production curtailments two weeks ago will continue after the cuts begin on Jan. 1, 2019, a panel of experts agreed Thursday. The difference between Western Canadian Select bitumen-blend heavy oil and New York-traded West Texas Intermediate oil prices had widened to as much as $52 US a barrel in October before recovering to about $25.50 US on Dec. 3, the day after the announcement by Alberta Premier Rachel Notley. The differential tightened to as little as $10.25 US on Tuesday this week and was flat at $12.25 US on Thursday for barrels to be delivered in January, according to Calgary trader Net Energy. That’s actually slightly lower than what analysts consider a normal or typical discount based on transportation costs and the difference in quality between WCS and WTI. "I expect there’s going to be a lot of variance in the short-term over the next couple of months […]
