Western Canada Select (WCS) crude’s discount to the benchmark West Texas Intermediate (WTI) was steady on Monday, the first day of a new trading window:

* WCS for May delivery in Hardisty, Alberta traded between $14.55 and $14.00 a barrel under WTI, according to brokerage CalRock, having traded between $14.55 and $14.35 a barrel under the U.S. benchmark on Friday.

* Producer group OPEC+’s surprise supply cut is likely to spur more exports from Canadian crude from the U.S. Gulf Coast, analysts said.

* Canada’s oil sands projects are also entering turnaround season, which typically crimps supply and strengthens prices.

* Oil benchmarks jumped 6% after the OPEC+ group jolted markets with plans to cut more production, raising fears of tightening supplies while some warned of reduced demand if oil refiners flinch at paying higher prices for crude.

* The outright price of WCS was just under $66 a barrel.
Source: Reuters (Reporting by Nia Williams; Editing by Christopher Cushing)