Canadian Crude Index - Misplaced Pages

Benchmark for oil produced in Canada

The Canadian Crude Oil Index (CCI) serves as a benchmark for oil produced in Canada. It allows investors to track the price, risk, and volatility of the Canadian commodity.

The CCI was launched by Auspice Capital Advisors in 2014. The Index moved from a day end posting to live in January 2016. The CCI can be used to identify opportunities to speculate outright on the price of Canadian crude oil or in conjunction with West Texas Intermediate (WTI) to put on a spread trade which could represent the differential between the two.

Currently, western Canadian oil trades at a discount to WTI. Western Canadian Oil from the Athabasca tar sands is a heavier blend and more difficult to refine. This, as well as its landlocked location and transportation constraints, contribute to the discount. The CCI provides a fixed price reference for Canadian Crude Oil and provides an accessible and transparent index to serve as a benchmark to build investable products upon, and could ultimately increase its demand to global markets. Other heavy sour crudes, like the Mexican Maya blend, currently trade at a premium to WTI.

The CCI targets an exposure that represents a three-month rolling position in crude oil. To create a price representative of Canadian crude the index uses two futures contracts: A fixed price contract, which represents the price of crude oil at Cushing, Oklahoma, and a basis differential contract, which represents the difference in price between Cushing and Canada. Both contracts are priced in U.S. dollars per barrel. Together, these create a fixed price for Canadian crude oil.

The Index value is determined by its third-party calculation and publication agent, the NYSE Global Index Group, based on daily returns of prices published by ICE Futures Europe.

References

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Petroleum industry

Benchmarks

Data

Natural gas	Consumption Production Reserves Imports Exports Price
Petroleum	Consumption Production Reserves Imports Exports Posted oil price Price of gasoline and diesel

Provinces
and fields

Other topics

Abbreviations
Classification
- sweet oil
- sour oil
Oil shale gas
Orphan wells
Peak oil
- fossil fuel phase-out
- timing
Petrocurrency
Petrodollar recycling
Petrofiction
Shale band
Shale gas
Swing producer
Unconventional (oil and gas) reservoir

Companies and
organisations

Major
petroleum
companies

Supermajors	BP Chevron Eni ExxonMobil Shell TotalEnergies
National oil companies	Abu Dhabi National Oil Company ANCAP Bharat Petroleum China National Offshore Oil Corporation China National Petroleum Corporation Ecopetrol Equinor Gazprom Hindustan Petroleum Indian Oil Corporation Iraq National Oil Company KazMunayGas Kuwait Petroleum Corporation Lotos Naftogaz National Iranian Oil Company National Iranian South Oil Company NNPC Limited Oil & Gas Development Company Oil and Natural Gas Corporation Orlen PDVSA Pemex Pertamina Petrobangla Petrobras PetroChina Petronas Petrovietnam PTT Public Company Limited QatarEnergy Rosneft Saudi Aramco Sinopec SOCAR Sonangol Sonatrach TPAO YPF
Energy trading	Enron Glencore Gunvor Mercuria Naftiran Intertrade Trafigura Vitol
Others	APA Corporation Cenovus Energy Cepsa ConocoPhillips Devon Energy Eneos Holdings Galp Energia Hess Corporation Husky Energy Imperial Oil Lukoil Marathon Oil Marathon Petroleum Occidental Petroleum OMV Phillips 66 Port Harcourt Refining Company Reliance Industries Repsol Suncor Energy Sunoco Surgutneftegas TechnipFMC TNK-BP Tullow Oil Tüpraş Valero Energy

Major
services
companies

Others

Category

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