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.

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.

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.

Learn about the factors that impact the price of Western Canadian Select (WCS) oil, including global oil supply and demand, transportation costs, quality differentials, and market speculation.

Learn about the factors influencing the price of Western Canadian Select (WCS) oil, its characteristics and pricing relative to other benchmark crude oils, and the fluctuations in the WCS-WTI differential. Stay informed on the current market trends and consult reliable sources for up-to-date information.

Learn about WCS crude oil futures, a financial tool for investors and traders to hedge against price volatility and speculate on the future price of WCS crude oil. Discover the factors that influence the price of WCS crude oil and the standardized contract sizes, expiration dates, and delivery locations of these futures contracts.

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.

WCS Oil, also known as Western Canadian Select Oil, is a heavy crude oil blend produced in Western Canada. It serves as a price reference for Canadian oil exports and is primarily exported to the United States. WCS Oil has a high density and sulfur content, resulting in a discount to other benchmark crude oils. Its production and export have significant economic impacts on Western Canada, but it faces challenges due to limited pipeline capacity and competition from other crude oil sources.

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.

The real-time price of WCS oil is influenced by global oil prices, supply disruptions, geopolitical events, and market speculation. Learn more about the factors that can cause fluctuations in the price of WCS oil and why it is important to monitor for those in the oil industry or interested in energy markets.

Learn about the various factors that influence the price of WCS oil, including global market dynamics, regional considerations, quality differentials, government regulations, and currency exchange rates.

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

The price forecast for WCS oil is influenced by various factors including supply and demand dynamics, global oil market trends, and geopolitical developments. WCS oil prices are currently low due to heavy blend processing costs and limited pipeline capacity. Uncertainties in demand and geopolitical tensions impact the forecast, while pipeline projects and cleaner energy sources may affect long-term prices.

The Canadian light oil price, also known as the Western Canadian Select (WCS), is the benchmark price for Canadian oil sands crude. Learn about the factors affecting its price, including pipeline infrastructure, global oil market dynamics, and geopolitical events.