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The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed on Thursday.
* WCS for February delivery in Hardisty, Alberta, settled at $12.20 a barrel under the WTI benchmark, according to brokerage CalRock, having settled at $12.30 a barrel under the U.S. benchmark on Wednesday.
* Canadian Natural Resources said on Thursday it expects production to increase 12% and capital spending to rise 13.5% in 2025, as it bets on higher demand amid tight oil supplies.
* Global oil prices rose more than 1% on Thursday as cold weather gripped parts of the United States and Europe, boosting winter fuel demand.
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Despite Pipeline Fight, B.C. and Alberta Agree on Push to Get Green Light for Two Big LNG Projects This Year