Is WCS a heavy oil?
Is WCS a heavy oil?
Western Canadian Select (WCS) is a heavy sour blend of crude oil that is one of North America’s largest heavy crude oil streams and, historically, its cheapest.
What is the difference between WTI and WCS?
Since the oil in WCS is much heavier than WTI (which is a light oil), and further away from main markets, WCS is priced at a further discount to WTI. Other oil streams produced from the oil sands are also priced at a discount to WTI or WCS.
What is Canadian heavy oil used for?
While light oils primarily used to create fuels such as gasoline, diesel and aviation fuels, heavy crudes (which also yield these transportation fuels) also provide feedstock for plastics, petrochemicals, other fuels and road surfacing.
What is the price of WCS oil today?
Oil Price Charts
|Futures & Indexes||Last||Last Updated|
|Western Canadian Select||102.77||(21 Hours Delay)|
|Dubai||108.13||(1 Day Delay)|
|Brent Weighted Average||115.21||(1 Day Delay)|
|Louisiana Light||118.73||(1 Day Delay)|
What is heavy crude oil used for?
It is used for the large ship engines of cargo vessels, bulk carriers of industrial or mining products like iron ore, cruise ships, and even the engine fuel for large oil tankers (though the oil that large oil tankers carry is called Crude Oil that has not yet been refined and is lighter than Heavy Fuel Oil).
What grade is Canadian oil?
4. While Canada produces many types (grades) of crude, the “heavy sour” grade is the dominant grade. Most Canadian producers, which are some of the largest in the world, have heavy oil production linked to WCS.
Is Canadian oil high quality?
In Canada’s major crude oil producing region, the Western Canadian Sedimentary Basin, three quarters of the crude oil produced is heavy. Heavy oil is a lower quality grade than light oil because it yields less high value end products, like gasoline and diesel.
Is Russian oil heavy or light?
The U.S. Geological Survey (USGS), however, estimates that Russia has 13.4 billion barrels of technically recoverable heavy oil and 33.7 billion technically recoverable barrels of bitumen.
Which is better heavy or light crude?
Light crude is typically more valuable, easier to refine, and contains greater quantities of hydrocarbons than heavier variants.