Bloomberg via Getty Images Steam rises from the Syncrude Canada Ltd. upgrader plant in the Athabasca oilsands near Fort McMurray, Alta., Mon. Sept. 10, 2018. Canadian oil is selling at the largest discount to global oil prices ever.

Canadian oil can't get to the world, and the world won't pay for what it can't have. The result? Canadian crude was trading at a 77-per-cent discount to benchmark North American oil at the end of this week. Prices have fallen for much of the past two weeks, with Western Canadian Select (WCS) — the benchmark price for product from the oilsands — dropping to US$16 a barrel on Friday. That pretty much ties for the lowest prices in records going back to 2009, and it's down nearly 37 per cent since its close on Monday.

HuffPost Canada Global oil prices as of Oct. 12.

By comparison, West Texas Intermediate (WTI) — the benchmark price for North American oil — was trading at US$71.50 on Friday, down about 3.8 per cent since Monday. The global benchmark, Brent crude, was trading at US$80.60, down 3.9 per cent. The weakness in markets this week was part of the reason for the slide, but the real problem is the inability of Canadian oil producers to get their product to market, Bank of Montreal senior economist Sal Guatieri wrote in a client note. Earlier on HuffPost: Trudeau says he's determined to get pipeline built (story continues below)