* Nov WCS trading at $32.90/bbl below WTI
* Nov synthetic trading at $11.75/bbl below WTI
CALGARY, Alberta Oct 2 Canadian crude prices
extended losses on Wednesday, pushed lower by abundant supply
and delays in overhauling BP Plc's 405,000 barrels-per-day
Whiting, Indiana refinery.
Western Canada Select heavy blend for November delivery last
traded at $32.90 per barrel below the West Texas Intermediate
benchmark, according to Shorcan Energy brokers.
That compares with a settlement price of $31.90 per barrel
below the benchmark on Tuesday.
Market players said increasing production volumes at
Imperial Oil's Kearl oil sands project were pushing the
In addition, a planned overhaul of a crude distillation unit
at Whiting has been moved back from October to November, sources
The refinery is undergoing a $4 billion revamp to enable it
to run cheaper heavy crude from Canada's oil sands but the
project, due to finish by the end of 2013, has been beset with
"There will be some further delays with the start-up of
Whiting. People were looking at late October or November and now
we have got supply coming that we thought would be taken up,"
said Martin King, analyst at FirstEnergy Capital in Calgary.
Light synthetic crude from the oil sands for November
delivery also fell, trading $11.75 per barrel below WTI,
compared with a settlement price on Tuesday of $10.60 per barrel
below the benchmark.
It was the widest differential for synthetic crude since the
first quarter of 2012, according to Reuters data.
Synthetic prices have dropped steadily since the summer,
when they were trading at a premium to WTI, as production has
risen at Syncrude's northern Alberta oil sands project.
Canadian Oil Sands Ltd, the largest-interest owner
in Syncrude said oil sands operations produced an average of
291,000 barrels per day (bpd) in September, 38.6 percent higher
than in August.