The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US $76.83 a barrel in February 2023, 16.2% lower than it was a year earlier.
Western Canada Select (WCS), the price obtained for many Alberta producers of oil, averaged US $51.16 a barrel in February 2023, 35.3% lower than it was a year earlier.
The differential of WTI over WCS was US $25.67 in February 2023.