MEG Energy Corp.’s top executive is increasingly bullish on crude prices and the Western Canadian Select (WCS)-West Texas Intermediate (WTI) differentials.

“It’s interesting. Obviously, there’s a lot of focus on where WTI today is … but the really interesting one is where do we see differentials. I mean today, differentials are trading in the U.S. Gulf Coast for WCS or AWB in that $2 to $3 range, which is showing the tremendous demand — worldwide demand — for this product,” Derek Evans, president and CEO, told analysts on a conference call to discuss Q4 and year-end 2021 results.

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The guidance report provides 2022 forecasts for capital spending, drilling and production for companies headquartered in Canada and the U.S.

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