Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Syncrude Strengthens Against WTI After Production Falls

Don't Miss Out —
Follow us on:

June 5 (Bloomberg) -- Syncrude strengthened after Canadian Oil Sands Ltd., the largest owner of the Syncrude Canada Ltd. joint venture, said production of the synthetic grade dropped 41 percent last month.

Output fell because of work on the venture’s 8-3 coker unit at its upgrader near Fort McMurray, Alberta. May production declined to 196,300 barrels a day from 330,300 barrels in April, the company said in a report on its website yesterday. Total production dropped to 6.1 million barrels from 9.9 million a month earlier, according to the posting.

Syncrude’s discount to West Texas Intermediate narrowed $1.50 a barrel to $7 at 1:51 p.m. in New York, according to data compiled by Bloomberg. Western Canada Select’s discount narrowed $1 to $24 a barrel. Bakken oil’s discount narrowed 35 cents to $11.65.

U.S. Gulf Coast crude grades also strengthened. Light Louisiana Sweet’s premium to WTI gained 70 cents to $12.70 a barrel. Heavy Louisiana Sweet’s premium increased 80 cents to $15.15 a barrel.

Mars Blend’s premium gained 65 cents to $10.90. Southern Green Canyon’s premium widened $1.10 to $10.90. Poseidon’s premium increased $1.80 to $11.25.

The premium for Thunder Horse, a sour crude with lower sulfur content than Mars, Poseidon and Southern Green Canyon, widened 25 cents to $12.25 a barrel.

To contact the reporter on this story: Aaron Clark in New York at aclark27@bloomberg.net

To contact the editor responsible for this story: Dan Stets at dstets@bloomberg.net