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• Crude Oil (sweet), spot price, dap, Alberta

Each assessment includes Crude Oil price history for the past 10 years, current prices, and short-term forecasts. Price assessments are updated on the 3rd business day of every month and are accessible via online charts, an Excel Add-In, and an API. Free previews for all assessments are available at Intratec website.

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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 January 2025, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to 62.86 U.S. dollars per barrel. This was an increase compared to the previous month. Western Canadian Select is a heavy sour blend of crude oil, produced exclusively in Western Canada. Western Canada’s oil production As a country with one of the largest oil reserves in the world, the Canadian oil sands are a crucial part of the Canadian energy sector. Not only are the oil sands a vital part of the Canadian energy supply, they play a large part in the Canadian economy. Furthermore, they are the largest single source of oil imports to their neighbors to the south, the United States. Oil sands are a combination of sand, water, and bitumen, and is therefore a more expensive source of crude oil than conventional oil, due to the large amount of processing required to produce a usable form of crude oil. The Canadian oil sands deposits are concentrated in the provinces of Alberta and Saskatchewan: Athabasca, Cold Lake, and Peace River. Oil sands bitumen production and crude oil exports In recent years, Canada’s oil sands production reached an output of some 180 million cubic meters per year, an increase from the 35.4 million cubic meters produced in 2000. Canada's exports of crude oil amount to close to 4.7 million barrels per day, of which the vast majority are destined for refineries in the U.S.

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.

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

Prices in US dollars per barrel of WCS oil and in Canadian dollars per gigajoule of natural gas.

Canada Crude Oil: Avg Price: Synthetic Edmonton data was reported at 537.490 CAD/Cub m in 27 Aug 2018. This records an increase from the previous number of 536.610 CAD/Cub m for 24 Aug 2018. Canada Crude Oil: Avg Price: Synthetic Edmonton data is updated daily, averaging 444.025 CAD/Cub m from Sep 2016 (Median) to 27 Aug 2018, with 518 observations. The data reached an all-time high of 622.910 CAD/Cub m in 10 Jul 2018 and a record low of 351.350 CAD/Cub m in 14 Nov 2016. Canada Crude Oil: Avg Price: Synthetic Edmonton 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.

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.

The average domestic heating oil price in Canada reached about 902 Canadian dollars per 1,000 liters in April 2020. Drops in prices over early 2020 is likely due to the coronavirus lockdowns. There are three types of middle distillate fuel oils that can be used for liquid-fuel-burning equipment without any preheating, and three other types that require preheating as they contain residual fuel components. There are both federal and provincial regulations that are applicable to heating oils in Canada, including the Canadian Environmental Protection Act.

Oil vs natural gas heating

Most houses in North America use a central furnace for space heating. In gas or oil fueled furnaces, the fuel is mixed with air and burned. However, most of Canada’s residential space heating is fueled by natural gas, especially as many new homeowners switch out oil heat furnaces in favor of natural gas equipment. Despite the common transition towards natural gas, heating oil tends to burn hotter than natural gas and thus, efficiently heats spaces in a much shorter time. Oil furnaces tend to last much longer than natural gas furnaces.

In 2023, the amount of crude petroleum oil exported from Canada expanded slightly to 185M tons, surging by 3.7% compared with 2022 figures.

This statistic shows the breakeven prices for Canadian and U.S. oil sands from selected projects, as of 2015. The Bakken project in Saskatchewan provides the best breakeven price deal with 44.30 U.S. dollars per barrel, while the Eagle Ford project in Texas produces oil sands at a breakeven price of 63.57 U.S. dollars per barrel.

Crude Oil: Avg Price: Canada Light Sweet Edmonton data was reported at 486.160 CAD/Cub m in 27 Aug 2018. This records an increase from the previous number of 484.930 CAD/Cub m for 24 Aug 2018. Crude Oil: Avg Price: Canada Light Sweet Edmonton data is updated daily, averaging 411.520 CAD/Cub m from Sep 2016 (Median) to 27 Aug 2018, with 518 observations. The data reached an all-time high of 575.680 CAD/Cub m in 10 Jul 2018 and a record low of 330.050 CAD/Cub m in 22 Jun 2017. Crude Oil: Avg Price: Canada Light Sweet Edmonton 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.

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.

In 2023, the amount of refined rape, colza or mustard oil exported from Canada skyrocketed to 2.1M tons, jumping by 24% on the year before.

The 2025 annual OPEC oil price stood at 78.1 U.S. dollars per barrel, as of February. This would be lower than the 2024 average, which amounted to 79.86 U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2024 fall in prices was the result of weakened demand outlooks, primarily from China.

This statistic shows the average retail price for cooking or salad oil in Canada from January 2015 to February 2022. In February 2022, the average retail price for cooking or salad oil in Canada was 4.45 Canadian dollars per liter.

In 2024, the annual average WCS oil price was 60.99 U.S. dollars per barrel. This was an increase of more than two U.S. dollars compared to the previous year. The lowest annual average was recorded in 2020, the first year of the coronavirus pandemic.

In September 2022, the crude rapeseed oil price stood at $2,236 per ton (FOB, Canada), with an increase of 36% against the previous month.

In 2024, the Canadian rapeseed oil market decreased by -48.6% to $477M, falling for the second year in a row after four years of growth. In general, consumption saw a pronounced shrinkage. Over the period under review, the market reached the peak level at $1.5B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Canada Avg Retail Price: Heating Fuel: Alberta: Edmonton data was reported at 164.500 0.01 CAD/l in Jan 2025. This records an increase from the previous number of 155.800 0.01 CAD/l for Dec 2024. Canada Avg Retail Price: Heating Fuel: Alberta: Edmonton data is updated monthly, averaging 85.200 0.01 CAD/l from Jan 1990 (Median) to Jan 2025, with 421 observations. The data reached an all-time high of 193.400 0.01 CAD/l in Jun 2022 and a record low of 41.900 0.01 CAD/l in Jan 1990. Canada Avg Retail Price: Heating Fuel: Alberta: Edmonton data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P015: Fuel Oil Price at Self Service Filling Stations. [COVID-19-IMPACT]