WCS Discount Narrows but Remains Wide Amid Global Demand Issues

The discount on Western Canada Select (WCS) crude oil to North American benchmark West Texas Intermediate (WTI) futures narrowed on Thursday, according to brokerage CalRock.

WCS for September delivery in Hardisty, Alberta settled at $14.70 a barrel below the U.S. benchmark WTI, down from $14.80 on Wednesday.

The discount remains significantly wider than it was in June due to ongoing weakness in China's import appetite and lower demand for heavy crude globally, analysts said.

Alberta's daily average production over the first six months of 2026 reached an all-time record of 4.1 million barrels per day, a 3% increase from the same period in 2025, according to ATB Cormark Capital Markets.