Report Section
Economics
Table EC18: Average Crude Oil Prices - Canadian and U.S. $ per Barrel, 2014–2023
| Per cent change | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2020/21 | 2021/22 | 2022/23 | ||
| WTI (Cushing, Oklahoma) $US/Bbl | 93.00 | 48.80 | 43.32 | 50.95 | 64.77 | 57.02 | 39.40 | 67.91 | 94.23 | 77.63 | 72.4 | 38.7 | (17.6) | |
| WTI (Cushing, Oklahoma) $CDN/Bbl | 102.68 | 62.29 | 57.36 | 66.06 | 83.91 | 75.65 | 52.79 | 85.11 | 122.55 | 104.78 | 61.2 | 44.0 | (14.5) | |
| Brent (UK) $US/Bbl | 99.51 | 53.64 | 45.04 | 54.83 | 71.53 | 64.17 | 43.21 | 70.79 | 98.89 | 82.22 | 63.8 | 39.7 | (16.9) | |
| Brent (UK) $CDN/Bbl | 109.87 | 68.46 | 59.63 | 71.09 | 92.68 | 85.13 | 57.90 | 88.71 | 128.62 | 110.98 | 53.2 | 45.0 | (13.7) | |
| Western Canada Select $CDN/Bbl | 81.06 | 44.83 | 38.89 | 50.24 | 52.34 | 58.77 | 35.59 | 68.73 | 98.51 | 79.53 | 93.1 | 43.3 | (19.3) | |
| Hardisty (Bow River) $CDN/Bbl | 81.67 | 45.35 | 39.22 | 50.85 | 53.11 | 59.10 | 35.92 | 69.04 | 98.83 | 79.87 | 92.2 | 43.2 | (19.2) | |
| Exchange Rate $US/$Cdn | 0.91 | 0.78 | 0.76 | 0.77 | 0.77 | 0.75 | 0.75 | 0.80 | 0.77 | 0.74 | 7.0 | (3.7) | (3.6) | |
Notes and Sources
Notes: WTI = West Texas Intermediate. UK = United Kingdom.
Source: Sproule Associates Limited
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Notes: WTI = West Texas Intermediate. UK = United Kingdom.
Source: Sproule Associates Limited
Source: Sproule Associates Limited