Oil Sands Prices

Oil prices are set in an open and competitive market and are influenced by many variables throughout North America and the world. These variables include supply and demand, production and exploration levels, global weather patterns, pricing and availability of competing energy sources, and market participants’ views of future trends in any of these or other variables.

Crude Bitumen Prices

Various prices, factors, and "R" multipliers for oil and bitumen that are necessary to determine the royalty volume payable to the Crown are published in the department's Information Letters.

The heavy oil royalty factor can be found on the Information Letters named "Petroleum Royalty Regulation."