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.

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.

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.

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.

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.

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.

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.

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.

加拿大 Crude Oil: Avg Price: Western Canada Select Hardisty在2018-08-27达340.390 CAD/Cub m，相较于2018-08-24的343.420 CAD/Cub m有所下降。加拿大 Crude Oil: Avg Price: Western Canada Select Hardisty数据按每日更新，2014-01-01至2018-08-27期间平均值为308.695 CAD/Cub m，共1214份观测结果。该数据的历史最高值出现于2014-06-20，达594.090 CAD/Cub m，而历史最低值则出现于2016-02-10，为121.290 CAD/Cub m。CEIC提供的加拿大 Crude Oil: Avg Price: Western Canada Select Hardisty数据处于定期更新的状态，数据来源于Kent Group Ltd.，数据归类于Daily Database的Commodity Prices and Futures – Table CA.DP001: Average Price: Crude Oil。

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

The Canadian Crude Index price refers to the benchmark price for various types of crude oil produced in Canada. This article explains the different components of the index, including Western Canada Select, Canadian Light Sweet, and Synthetic Crude Oil. It discusses the factors that influence the index price and its importance in the Canadian oil industry. Additionally, it highlights how the index is used for financial contracts and decision making in the industry.

加拿大 Avg Price: Crude Oil: Western Canada Select Hardisty在2018-07达392.060 CAD/Cub m，相较于2018-06的387.380 CAD/Cub m有所增长。加拿大 Avg Price: Crude Oil: Western Canada Select Hardisty数据按月度更新，2014-01至2018-07期间平均值为306.860 CAD/Cub m，共55份观测结果。该数据的历史最高值出现于2014-06，达584.040 CAD/Cub m，而历史最低值则出现于2016-02，为153.130 CAD/Cub m。CEIC提供的加拿大 Avg Price: Crude Oil: Western Canada Select Hardisty数据处于定期更新的状态，数据来源于Kent Group Ltd.，数据归类于Global Database的加拿大 – Table CA.P001: Average Price: Crude Oil。

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.

The average retail price for regular, unleaded gasoline at self-service stations in Canada was 157.7 Canadian cents per liter in February 2025. This was an increase compared to the previous month. Canada's gasoline prices are generally higher than those in the United States, but lower than in many European countries. Why do gasoline prices fluctuate? Crude oil prices, along with changing levels of consumer demand, are the two main factors which directly affect retail prices of motor fuels. Prices can witness a rapid increase or decrease depending on impacts on crude oil supplies, refinery operations, or pipeline deliveries. Even if crude prices remain steady, seasonal changes in demand can still affect retail prices. As a large oil producer, Canada's motor fuel prices are closely linked to its benchmark Western Canadian Select crude oil price. Canada's fuel station industry Motor fuel is primarily sold via nearly 12,000 retail gasoline stations spread across the country. In 2022, retail sales of gasoline stations in Canada reached a new peak of 82.78 billion Canadian dollars.

Since 2017, Canadian crude oil exports by rail increased, peaking at nearly 412 thousand barrels per day as of January 2020. However, in the following months, crude oil exports by rail continuously dropped, as a result of the coronavirus pandemic, which led to a reduced oil demand and saw the Western Canadian Select price fall significantly. As of June 2020, figures reached a low of 42.8 thousand barrels per day.

By April 20th 2020, some 300,000 barrels had been cut in daily oil sands production in Canada. The coronavirus pandemic and resulting decline in consumer oil demand have been exacerbated by high levels of production in other oil producing countries and storage facilities rapidly filling up. Canada's heavy oil benchmark Western Canadian Select has also dramatically dropped in price, trading below ten dollars per barrel for more than a week, and dropping to -0.01 U.S. dollars per barrel as of April 20. Estimates expect production cuts in Canada may have to increase to 1.5 million barrels per day.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.