BOE Report - Heavy discount narrows after Suncor cuts production outlook

September 8, 2020 – BOE Report

Heavy discount narrows after Suncor cuts production outlook

Via Reuters

Canadian heavy crude’s discount versus West Texas Intermediate (WTI) tightened on Tuesday to the narrowest level since mid-July, after major producer Suncor Energy reduced its full-year production guidance, tightening supplies.

Western Canada Select (WCS) heavy blend crude for October delivery in Hardisty, Alberta, traded at $7.60 per barrel below WTI, according to NE2 Canada Inc. It settled on Friday at $8.70 under.

Production outages and oil sands maintenance are limiting supplies and keeping the differential narrow, said Martin King, senior analyst at RBN Energy. He added that there may be little to no apportionment for the Enbridge Mainline into the autumn.

Read the full article here: https://boereport.com/2020/09/08/heavy-discount-narrows-after-suncor-cuts-production-outlook/