Dashboard 2
Source: CER, Wood Mackenzie (Genscape), One Exchange Corp.
Description: The first chart compares crude oil production in British Columbia, Alberta, and Saskatchewan with the WTI-WCS differential from January 2019 to January 2024. The second chart compares crude oil storage levels in Canada with the WTI-WCS differential from 2019 to March 2024. Both crude oil production and storage levels are generally increasing, with variations generally tracking variations in the WTI-WCS differential. Oil production, storage, and the differential decreased in 2020 because of lower demand during the COVID-19 pandemic. Since then, production, storage, and the differential have generally been increasing in late 2023. After reaching an average of US$25.30 per barrel in November 2023, the differential has narrowed to about US$13 per barrel five months later in April 2024. To see an animated version of this graph, click here.
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