Heavy crude discount narrows slightly

Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) narrowed slightly on Friday:

* WCS heavy blend crude for January delivery in Hardisty, Alberta, was trading at $28.80 barrel under WTI, according to traders, down from the previous session's settle of $29.15.

* The slight narrowing reflects an inventory draw in Western Canada and as the heavy oil market awaits Sunday's OPEC+ meeting, a trader said.

* WCS differentials have been under pressure since late September when factors including a drop in U.S. refinery demand, competition from cheap Russian barrels on the global market and rising Canadian production combined to push the discount sharply wider.

* Global oil prices slipped by about $1 a barrel in choppy trading ahead of a meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude on Monday.