Western Canadian Select (WCS) crude oil monthly price 2020-2025

In April 2025, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to ***** U.S. dollars per barrel. This was a decrease compared to the previous month. Western Canadian Select is a heavy sour blend of crude oil, produced exclusively in Western Canada.

The importance of Canada’s oil sands

Not only are the oil sands a vital part of the Canadian energy industry, they play a large part in the national economy as well. In 2023, the oil sands extraction industry contributed over ** billion Canadian dollars to Canada's GDP. This represented a share of **** percent of the total GDP. Furthermore, they are the largest single source of oil exports to their neighbors to the south, the United States. Oil sands are a combination of sand, water, and bitumen, and therefore a more expensive source of crude oil than conventional oil as oil sands require extensive processing. Meanwhile, that same year the contribution of conventional crude oil and gas extraction stood at ** billion Canadian dollars, which translated to **** percent of total GDP.

Canada’s main oil export partner remains the U.S.

In 2023, Canada’s oil exports amounted to over *** million barrels per day. This was a historical high and represented more than twice the amount exported in 2005 thanks to oil sand exploration. The United States is Canada’s main oil destination market, receiving ***** million metric tons in 2023. Far in second place came China, with *** million metric tons exported there that same year.