Wcs heavy oil differential
Unlike other benchmark crudes, WCS Crude Oil Futures Contracts, which trade on the CME, reflects the differential to WTI, and not the actual WCS price. This differential is often referred to as the Heavy Oil Discount. Light sweet crude oil requires less energy to refine and should theoretically sell for a better price. WCS trades at a discount to WTI due to the higher cost of refining WCS crude into refined products, such as gasolines, jet fuel, kerosene, and diesel. This discount is referred to as a heavy oil differential. Approximately 80% of Baytex's heavy oil production is priced off WCS.