WCS to arrive on the global stage
New pipeline capacity may transform the role of Canada’s key heavy sour crude and its price after a few false dawns
Canada’s benchmark heavy sour crude, Western Canadian Select (WCS), stands ready to play a bigger role in the global oil market. The North American grade—based on more than 400,000bl/d produced by four oil sands producers—is a marker for other Canadian heavy blends and is generally exported to the US, where it is refined in the US Midwest and Gulf Coast. Some 20 years after its launch, this cheap heavy crude may finally start to gain a newfound appreciation—and fewer constraints—once the Trans Mountain pipeline expansion project comes online at some point in 2024. “The twists and turns in the pricing saga of Western Canada’s heavy crude oil marker, WCS, are seemingly endless,” Martin King, m
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised