Recent Widening Of WCS-WTI Diffs Less About Egress, More About ‘Crude Quality Preferences’

Although they have narrowed somewhat so far this week, Western Canadian Select (WCS) differentials have recently reached some of their widest levels since the pandemic began due to stronger Canadian production, heavier OPEC barrels returning to the market and high natural gas prices pushing up the cost associated with heavy crudes, said Rory Johnston, managing director and market economist at Toronto-based Price Street Inc.

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