Canadian Natural Sees Further Narrowing of Heavy Crude Discount

摘要

Despite lacking its own oil refineries which would enable it to benefit from low feedstock prices, Canadian Natural Resources (CNR) reported a big year-over-year increase in first-quarter profits on Friday. Big differentials of up to $35 per barrel this winter between the price for Western Canadian Select (WCS) heavy crude and US benchmark West Texas Intermediate (WTI) boosted the downstream earnings of integrated Canadian companies like Imperial Oil and Husky Energy.