CANADIAN NATURAL RESOURCES Ltd
Close on Nov 2, 2026Market cap $111.66BP/E 14.5Yield –
Canadian Natural Resources WCS Heavy Differential to WTI by Year
WCS Heavy Differential to WTI — Company Reported (US$/bbl) ($)
Canadian Natural Resources WCS Heavy Differential to WTI: $11.10 in 2025, down 24.6% from a year earlier. That is the lowest of the 8 years on record here.
Where the 2025 figure comes from
“|| WCS Heavy Differential from WTI (US$/bbl) | $ | 11.10 | $ | 14.73 | $ | 18.62”
Source: Canadian Natural Form 40-F, filed 2026-03-26 ↗
Canadian heavy oil (Western Canadian Select), Edmonton Synthetic Crude Oil (SCO), Condensate, AECO gas & FX benchmarks reported in CNQ's MD&A.
Annual history
Hover a value to see the sentence it was read from; calculated values show their formula
| Period | Ended | WCS Heavy Differential to WTI — Company Reported (US$/bbl) ($) | Year on year | Source |
|---|---|---|---|---|
| 2025 | Dec 31, 2025 | 11.10 | -24.6% | Canadian Natural Form 40-F, filed 2026-03-26 ↗ |
| 2024 | Dec 31, 2024 | 14.73 | -20.9% | Canadian Natural Form 40-F, filed 2026-03-26 ↗ |
| 2023 | Dec 31, 2023 | 18.62 | +2.0% | Canadian Natural Form 40-F, filed 2026-03-26 ↗ |
| 2022 | Dec 31, 2022 | 18.26 | +40.0% | Canadian Natural Form 40-F, filed 2025-03-26 ↗ |
| 2021 | Dec 31, 2021 | 13.04 | +3.7% | Canadian Natural Form 40-F, filed 2024-03-20 ↗ |
| 2020 | Dec 31, 2020 | 12.57 | -1.7% | Canadian Natural Form 40-F, filed 2023-03-23 ↗ |
| 2019 | Dec 31, 2019 | 12.79 | -51.4% | Canadian Natural Form 40-F, filed 2022-03-23 ↗ |
| 2018 | Dec 31, 2018 | 26.29 | – | Canadian Natural Form 40-F, filed 2021-03-24 ↗ |
Breakdown
What makes up WCS Heavy Differential to WTI
- WCS Differential as % of WTI (%)17.0% · 2025
- Edmonton Synthetic Crude Oil (SCO) Benchmark Price (US$/bbl)64.42 · 2025
- SCO Premium / (Discount) to WTI (US$/bbl)-0.35 · 2025
- Edmonton Condensate Diluent Benchmark Price (US$/bbl)63.32 · 2025
- WTI Benchmark Average Price — Company Reported (US$/bbl)64.77 · 2025
- Dated Brent Benchmark Average Price — Company Reported (US$/bbl)69.02 · 2025
- AECO Benchmark Natural Gas Price (C$/GJ)1.76 · 2025
- NYMEX Benchmark Natural Gas Price (US$/MMBtu)3.43 · 2025
- Average Exchange Rate — Company Reported (US$ per C$1.00)0.73 · 2025
Cite this data
StockData. (2026). Canadian Natural Resources WCS Heavy Differential to WTI ($), annual 2018–2025 [Data set]. Compiled from Canadian Natural Resources SEC filings and investor materials. https://stockdatahq.com/stocks/cnq/kpis/bench-wcs-diff-usd-bbl
See every metric in the Canadian Natural Resources KPI table. Data updated Oct 31, 2026.