Price difference between BCO and WCS (Jan 1, 2019-Sep 30,2024) | Bloomberg L.P. / eia

Western Canada Select (WCS) is Canada's most important heavy crude benchmark — a purpose-built blend of Alberta oil sands bitumen, heavy conventional crude streams, and condensate diluent, priced at Hardisty, Alberta. It is the largest heavy oil stream in North America and the primary pricing reference for Canadian heavy crude exports.

WCS was created in 2004 by four founding oil sands producers — Suncor, Cenovus (then EnCana), Canadian Natural Resources (CNRL), and Talisman Energy — to solve a blending standardization problem: dozens of incompatible Alberta heavy streams were difficult to pipeline and price individually. The blend formally standardized at the Hardisty, Alberta tank farm hub, where it is physically batched before entering long-haul pipelines south.

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