Wildfires in Canada are sending Canadian oil prices higher as a second oil producer is forced to shut-in production, with Cenovus Energy joining Canadian Natural Resources in halting operations due to safety concerns, according to World Oil . Over the past year, Canada’s oil industry has suffered under the weight of its deeply discounted benchmark crude oil, Western Canadian Select. The painful discount, worsened by Canada’s provincial bickering over oil flows and pipeline projects, pressured oil-rich Alberta last year curtail oil production in an effort to shore up the discount. It worked. In October 2018, the WCS discount was over $60. That discount fell to just $15 last week, and is now looking to shrink even further thanks to the wildfire. The wildfires bring back painful memories of wildfires ripping through Alberta in 2016, crippling multiple producers and shutting in hundreds of thousands of barrels of production. The total […]