In April 2025, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to ***** U.S. dollars per barrel. This was a decrease compared to the previous month. Western Canadian Select is a heavy sour blend of crude oil, produced exclusively in Western Canada. The importance of Canada’s oil sands Not only are the oil sands a vital part of the Canadian energy industry, they play a large part in the national economy as well. In 2023, the oil sands extraction industry contributed over ** billion Canadian dollars to Canada's GDP. This represented a share of **** percent of the total GDP. Furthermore, they are the largest single source of oil exports to their neighbors to the south, the United States. Oil sands are a combination of sand, water, and bitumen, and therefore a more expensive source of crude oil than conventional oil as oil sands require extensive processing. Meanwhile, that same year the contribution of conventional crude oil and gas extraction stood at ** billion Canadian dollars, which translated to **** percent of total GDP. Canada’s main oil export partner remains the U.S. In 2023, Canada’s oil exports amounted to over *** million barrels per day. This was a historical high and represented more than twice the amount exported in 2005 thanks to oil sand exploration. The United States is Canada’s main oil destination market, receiving ***** million metric tons in 2023. Far in second place came China, with *** million metric tons exported there that same year.

On December 19, 2022, WCS prices closed at 47.87 U.S. dollars per barrel. This was an increase compared to the previous week. Crude oil prices reached over 100 U.S. dollars on March 7 and May 16, following concerns by market traders over tight supplies as a result of the Russia-Ukraine war. Western Canadian Select is the main benchmark for crude oil produced from oil sands in Alberta. It usually trades at around 10 U.S. dollars below WTI - which is the reference price for crude oil originating in the United States.

Canadian crude oil prices have experienced significant fluctuations today due to factors such as trade tensions, global economic growth, oil production levels, and pipeline capacity. This article discusses the reasons behind the price decline and highlights the ongoing concerns and challenges faced by the Canadian crude oil market.

United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data was reported at 57.310 USD/Barrel in Aug 2018. This records a decrease from the previous number of 59.000 USD/Barrel for Jul 2018. United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data is updated monthly, averaging 25.060 USD/Barrel from Oct 1973 (Median) to Aug 2018, with 539 observations. The data reached an all-time high of 122.830 USD/Barrel in Jul 2008 and a record low of 4.820 USD/Barrel in Oct 1973. United States Crude Oil Price: EIA: Landed Cost of Imports: Canada data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.

Canada has abundant resources of crude oil, with an estimated remaining ultimate potential of 52.3 106m³ (329 billion barrels) as of December 2017. Of this, oil sands account for 92 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada was the 4th largest producer in the world in 2018, it produces only about five per cent of total daily production, so it does not have a major influence on the world oil prices. In 2018, 96 per cent of Canadian crude exports went to the U.S. The Canada Energy Regulator regulates the export of crude oil. Holders of export authorizations report monthly statistics on export activities. This dataset provides historical export volumes of crude oil (by year and month), and by either type of oil or by destination of export.

Crude Oil: Avg Price: Western Canada Select Hardisty data was reported at 340.390 CAD/Cub m in 27 Aug 2018. This records a decrease from the previous number of 343.420 CAD/Cub m for 24 Aug 2018. Crude Oil: Avg Price: Western Canada Select Hardisty data is updated daily, averaging 308.695 CAD/Cub m from Jan 2014 (Median) to 27 Aug 2018, with 1214 observations. The data reached an all-time high of 594.090 CAD/Cub m in 20 Jun 2014 and a record low of 121.290 CAD/Cub m in 10 Feb 2016. Crude Oil: Avg Price: Western Canada Select Hardisty data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Daily Database’s Commodity Prices and Futures – Table CA.DP001: Average Price: Crude Oil.

Access monthly energy price assessments for Germany, featuring Crude Oil and other key energy commodities. Coverage includes 10-year price history, current values, short-term forecasts, and market trends. Updated on the 3rd business day of each month, the data offers insights on prices, supply, demand, production, and trade. Available via PDF reports, Excel Add-In, Power BI, and API. Coverage for Canada and over 30 other countries is included in Intratec Energy Prices & Markets. Free preview available.

Crude Oil fell to 64.78 USD/Bbl on July 1, 2025, down 0.50% from the previous day. Over the past month, Crude Oil's price has risen 3.62%, but it is still 21.77% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

The price for one barrel of oil exported from Canada stood at an average of 65.27 U.S. dollars in 2024. This was a decrease of some 13 U.S. dollars compared to 2022. These figures also closely mirrored Canada's benchmark WCS oil price.

In 2024, the Canadian crude oil market decreased by -9.4% to $53.4B, falling for the second consecutive year after two years of growth. Overall, consumption recorded a relatively flat trend pattern. Crude oil consumption peaked at $79.2B in 2014; however, from 2015 to 2024, consumption stood at a somewhat lower figure.

Supply and disposition characteristics such as production (fuels include heavy crude, synthetic crude, etc.), input to refineries, exports and others. The data are available at the national and provincial levels. Not all combinations necessarily have data for all years.

Avg Price: Crude Oil: Western Canada Select Hardisty data was reported at 392.060 CAD/Cub m in Jul 2018. This records an increase from the previous number of 387.380 CAD/Cub m for Jun 2018. Avg Price: Crude Oil: Western Canada Select Hardisty data is updated monthly, averaging 306.860 CAD/Cub m from Jan 2014 (Median) to Jul 2018, with 55 observations. The data reached an all-time high of 584.040 CAD/Cub m in Jun 2014 and a record low of 153.130 CAD/Cub m in Feb 2016. Avg Price: Crude Oil: Western Canada Select Hardisty data remains active status in CEIC and is reported by Kent Group Ltd.. The data is categorized under Global Database’s Canada – Table CA.P001: Average Price: Crude Oil.

Comprehensive historical data and future forecasts for Crude Oil prices in Canada, crucial for market analysis and strategic planning.

The Western Canadian Select (WCS) oil price has experienced significant fluctuations over the past two decades, reflecting the volatile nature of global oil markets. In 2024, the annual average WCS oil price reached 60.99 U.S. dollars per barrel, a slight increase from the previous year. This price movement is part of a broader trend in the oil industry, where prices have been influenced by various economic and geopolitical factors. What impacts oil prices? Oil prices have been on a rollercoaster ride since the early 2000s, with dramatic fluctuations observed in OPEC Reference Basket oils. For instance, the Saharan Blend from Algeria saw its price rise from about 25 U.S. dollars per barrel in 2002 to over 111 U.S. dollars a decade later, before settling at 83.64 U.S. dollars in 2023. These price swings have been driven by major events such as the 2008 global financial crisis, the 2020 coronavirus pandemic, and the 2022 energy supply crisis following the Russia-Ukraine war. The volatility in oil prices has had far-reaching impacts on global economies and energy markets as they impact manufacturers and consumers. How regionally important crudes can influence the global economy While WCS prices reflect trends in the North American market, other regional benchmarks provide insights into global oil dynamics. For example, Dubai Crude (Fateh), an important benchmark for Asia, averaged 82.09 U.S. dollars per barrel in 2023, down from 96.38 U.S. dollars the previous year. Similarly, Russia's Urals crude oil, a major export brand, saw its price fluctuate in response to global events and policy decisions, such as the price cap imposed by the G7, EU, and Australia in December 2022. These regional variations highlight the complex interplay of supply, demand, and geopolitical factors in shaping global oil prices.

Canada has abundant resources of crude oil, with an estimated remaining ultimate potential of 52.3 106m³ (329 billion barrels) as of December 2017. Of this, oil sands account for 92 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada was the 4th largest producer in the world in 2018, it produces only about five per cent of total daily production, so it does not have a major influence on the world oil prices. In 2018, 96 per cent of Canadian crude exports went to the U.S. The Canada Energy Regulator regulates the export of crude oil. Holders of export authorizations report monthly statistics on export activities. This dataset provides historical export volumes of crude oil (by year and month), and by either type of oil or by destination of export.

Price for Crude Oil and Processed Petroleum in Canada - 2023. Find the latest marketing data on the IndexBox platform.

Revenue for the Canadian Petroleum Refining industry has been volatile. Crude oil is the primary input into industry products, and therefore, its price is the primary driver of industry revenue. However, the pandemic's collapse in oil prices in 2020 drove refinancing revenue down. Subsequently, high demand and ongoing supply chain disruptions led crude oil prices to spike sharply, translating into an industry revenue boom in 2021 and 2022. However, tempering oil prices in 2024 and potentially 2025 will depress revenue growth during the period. Overall, industry revenue is forecast to fall at a CAGR of 0.2% to $85.4 billion over the five years to 2025. In 2025, tempering oil prices are forecast to produce a revenue contraction of 4.6% for the industry. Like volatile revenue, the industry's profitability has tracked changes in oil prices. The shift in travel behaviours post-pandemic caused demand to surge, especially from downstream transportation markets. In 2020, refinery profits hit a five-year low, averaging just 5.7% across the industry. However, the surge in demand that followed has led to an industry-wide profit improvement, even as higher crude oil prices have raised purchase costs. The highly concentrated industry's structure has, meanwhile, remained largely unaltered. In 2025, profit is expected to reach 12.9% of revenue. The industry is projected to contract slowly as global oil prices continue to temper. Trade uncertainty and tariff pressures will lower oil prices and demand. Accordingly, industry revenue is forecast to contract at a CAGR of 0.9% to $81.8 billion over the five years to 2030. However, volatility is likely to intercede given global upheaval. Since 2022, the Canadian government has announced a ban on imports of crude oil from Russia in response to that country's invasion of Ukraine.

China Import Price: Crude Oil: North America: Canada data was reported at 491.111 USD/Ton in Mar 2025. This records a decrease from the previous number of 502.688 USD/Ton for Feb 2025. China Import Price: Crude Oil: North America: Canada data is updated monthly, averaging 496.292 USD/Ton from May 2008 (Median) to Mar 2025, with 132 observations. The data reached an all-time high of 40,000.000 USD/Ton in Nov 2017 and a record low of 198.927 USD/Ton in Apr 2020. China Import Price: Crude Oil: North America: Canada data remains active status in CEIC and is reported by CEIC Data. The data is categorized under China Premium Database’s Price – Table CN.PH: Crude Oil Import and Export Price.

Interactive chart showing the daily closing price for West Texas Intermediate (NYMEX) Crude Oil over the last 10 years. The prices shown are in U.S. dollars.

Learn about the factors that influence the price of Canadian crude oil, such as global supply and demand, transportation costs, quality differentials, and market constraints. Discover how the price of West Texas Intermediate (WTI) crude oil impacts Canadian crude prices and why transportation, quality differentials, and infrastructure limitations play a role. Stay informed on the key factors shaping the Canadian crude oil market.