Highest drilling rig count in Saskatchewan for several years seen Nov. 3.
WCS WTF???
Jim Warren: Differential differences: How online oil price publishers come up with vastly different WCS crude prices and why it matters
Last month when I finished with Bray I realized that there is now a wide divergence in the reported Western Canadian Select prices, depending on which site you look at. I asked columnist Jim Warren to look into it, and he spent the better part of the month on it. It turns out there are significant differences, and implications. A narrow majority of the insiders he spoke to says BNN Bloomberg is the price to follow, and that’s got huge policy implications for Canada, Saskatchewan and Alberta. That’s because it’s showing an enormous differential to WTI.
Example: Late Monday night
- BNN Bloomberg WCS US$63.22 (WTI 96.95)
- Oilprice.com WCS US$91.77 (WTI 97.46)
- AlbertaOil.ca WCS US$81.36 (WTI 97.36)
- EnergyNow.ca WCS US$71.26 (WTI 97.07)
If you look at the other ones, you’ll think the differential is not a big deal. If you look at Bloomberg, it’s an enormous deal for the province’s finances. So, what is reality?
This has huge implications on the need to build a pipeline to the West Coast.


