Canadian Crude Discount Widens as Kearl Production Increases

Canadian heavy crude’s discount to U.S. benchmark West Texas Intermediate grew to the widest point in almost four months as operations at Kearl oil sands advanced toward capacity after a recent shutdown.

Imperial Oil Ltd. is increasing production at Kearl toward 110,000 barrels a day after reaching the pre-shutdown level of 92,000, spokesman Pius Rolheiser said in a phone interview. The company resumed work at Kearl Dec. 2 after shutting operations in early November because of vibrations in an ore crusher.