Oil Prices

Price per barrel of WCS oil in US dollars.

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WTI Oil ($US/bbl)

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Analysis

PUBLISHED - Jan 23, 2020

The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$59.88 a barrel in December 2019, 20.9% higher than it was a year earlier. WTI averaged $56.98 a barrel in 2019, 12.1% lower than 2018's average price. Western Canada Select (WCS), the price obtained for many Alberta producers of oil, averaged US$39.11 a barrel in December 2019, 555.1% higher than it was a year earlier. WCS averaged $44.28 a barrel in 2019, 15.1% higher than 2018's average price. The differential of WTI over WCS was US$20.77 in December 2019.