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Western Canadian Select (WCS) crude oil monthly price 2018-2019
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Western Canadian Select (WCS) crude oil monthly price 2018-2019
Average monthly Western Canadian Select (WCS) crude oil price from July 2018 to July 2019 (in U.S. dollars per barrel)
by M. Garside,
last edited
Aug 12, 2019
In July 2019, the average monthly price of the Canadian oil benchmark Western Canadian Select (WCS) was 44.12 U.S. dollars per barrel. WCS is a heavy sour blend of crude oil, produced exclusively in Western Canada.
Western Canada’s oil production
As the country with the third-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 useable form of crude oil. The Canadian oil sands deposits are concentrated in the provinces of Alberta and Saskatchewan: Athabasca, Cold Lake, and Peace River.
Canadian oil sands by the numbers
In 2016, Canada’s oil sands production amounted to a total of about 140.2 million cubic meters, an increase from the 137.3 million cubic meters produced the previous year. The oil sands in Canada are a lucrative natural resource, with a value of more than 40 billion Canadian dollars in 2016. About 6,403 new oil wells were drilled in Canada in 2017. It is projected (in the high case scenario) that production will reach 7.49 million barrels per day in 2038.
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by M. Garside,
last edited
Aug 12, 2019
In July 2019, the average monthly price of the Canadian oil benchmark Western Canadian Select (WCS) was 44.12 U.S. dollars per barrel. WCS is a heavy sour blend of crude oil, produced exclusively in Western Canada.
Western Canada’s oil production
As the country with the third-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 useable form of crude oil. The Canadian oil sands deposits are concentrated in the provinces of Alberta and Saskatchewan: Athabasca, Cold Lake, and Peace River.
Canadian oil sands by the numbers
In 2016, Canada’s oil sands production amounted to a total of about 140.2 million cubic meters, an increase from the 137.3 million cubic meters produced the previous year. The oil sands in Canada are a lucrative natural resource, with a value of more than 40 billion Canadian dollars in 2016. About 6,403 new oil wells were drilled in Canada in 2017. It is projected (in the high case scenario) that production will reach 7.49 million barrels per day in 2038.
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- Release date
- August 2019
- Region
- Worldwide
- Survey time period
- July 2018 to June 2019
- Supplementary notes
-
Western Canadian Select has the following characteristics:
API density: 20.5 to 21.5°
Sulfur content: 3.0 to 3.5% w/w
Density: 925 to 935 kg/m³
Source
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- As a Premium user you get access to the detailed source references and background information about this statistic.
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- Release date
- August 2019
More information
- Region
- Worldwide
- Survey time period
- July 2018 to June 2019
- Supplementary notes
-
Western Canadian Select has the following characteristics:
API density: 20.5 to 21.5°
Sulfur content: 3.0 to 3.5% w/w
Density: 925 to 935 kg/m³
Other statistics on the topic
Canadian oil and gas industry
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- Total remaining crude oil reserves in Canada 2018, by region (in 1,000 cubic meters)*
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- Total oil sands sales value in Canada from 1986 to 2016 (in 1,000 Canadian dollars)*
- Capital expenditure of Canadian petroleum industry in 2016, by region (in million Canadian dollars)*
- Value of natural gas sales in Canada from 1947 to 2016 (in 1,000 Canadian dollars)*
- Royalties of the Canadian oil sands 1970 to 2016 (in million Canadian dollars)
- Average monthly Western Canadian Select (WCS) crude oil price from July 2018 to July 2019 (in U.S. dollars per barrel)
- Number of oil wells completed in Canada from 1955 to 2018
- Number of gas wells completed in Canada from 1955 to 2018
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- Share of drilling rigs in use in Canada from 1977 to 2018*
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- Forecast of total oil sands production in Canada from 2015 to 2035 (in 1,000 barrels per day)
- Canada's oil sands production forecast from 2014 to 2039, by scenario (in million barrel per day)*
- Revenue of Enbridge from 2010 to 2017 (in million Canadian dollars)
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- Crude oil imports to Canada in 2018, by region of origin (in million metric tons)
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