Noob QUestionwhy do we always talk about WTI when baytex sells at a discount to WTI and uses the WCS benchmark for prices? 80% of their production
https://www.baytexenergy.com/operations/marketing/benchmark-heavy-oil-prices.cfm
As a largely heavy oil producer, our production is typically priced based on a Canadian heavy oil benchmark price, referred to as Western Canadian Select (“WCS”). WCS is made up of existing Canadian heavy conventional and bitumen crude oils blended with sweet synthetic and condensate diluents, and has an average gravity of 20.5 degrees API.