Canadian crude prices strengthen as Alberta wildfires shut in 200,000 boe/d of output

Western Canadian crude differentials strengthened May 8 following news that approximately 200,000 b/d of oil equivalent production of light oil, NGL and natural gas production has been shut in because of wildfires. The shut-ins were precautionary, and primarily impacted conventional lighter grades. Also, nearly 450 Mcf/d of natural gas processing was shut in. Drayton Valley, along with Grand Prairie in…