Canada bitumen oil sands price assumptions versus forecasts

A brief description focused on the importance of regression analysis in coming up with a planning price forecast. In this case we examine the relationship between Western Canadian Select (WCS) and WTI. The WCS-WTI discount has rapidly shifted in the past and is likely to do so again. We also provide an example of Wood Mackenzie's bitumen forecast calculation which incorporates both a fixed dollar and percent discount.