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1. www.gov.nl.ca › fin › economicsOil Production Up 1.0% in April 2024 - Finance

   www.gov.nl.ca › fin › economics

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   Brent crude oil prices increased in May 2024, averaging US$81.75/barrel, up 8.3% from US$75.47/barrel in May 2023. The estimated value of Newfoundland and Labrador’s crude oil output is in Canadian dollars; the average Canada-US exchange rate in April 2024 stood at 73.1 cents/US dollar, compared to 74.2 cents/US dollar in April 2023.

   • Labour Markets

     The labour force in Newfoundland and Labrador increased by...

   • Methodology

     Department of Finance P.O. Box 8700 Main Floor, East Block...

   • Demographic Overview

     Newfoundland and Labrador’s total fertility rate was 1.22...

   • Retail

     The highest gains were in Prince Edward Island (+13.3%), the...

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     Department of Finance P.O. Box 8700 Main Floor, East Block...

2. www.nationalobserver.com › 2022/09/12 › analysisWhy Newfoundland and Labrador is going all-in on offshore oil

   www.nationalobserver.com › 2022/09/12 › analysis

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   Sep 12, 2022 · As COVID-19 was spreading, an oil price war between Saudi Arabia and Russia hit Newfoundland and Labrador hard. The price of oil plummeted, creating a crisis for Canada’s easternmost province, which is heavily reliant on oil revenue to pay for services for its population of about 520,000.

3. www.gov.nl.ca › fin › brent-crude-trackingOil Prices – Budget Assumptions vs. Daily Brent Spot Prices

   www.gov.nl.ca › fin › brent-crude-tracking

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   Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration.

4. energynl.ca › 2021 › 07Will Newfoundland offshore oil industry reboot with rising ...

   energynl.ca › 2021 › 07

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   Jul 9, 2021 · The trips have not been as frequent since 2020, the result of historically low oil prices due to the pandemic and resulting economic downturn. Last year oil prices dropped to below $20 a barrel. In Newfoundland and Labrador, the West White Rose extension project stalled, shutting down construction on a gravity-based platform at Argentia.

5. www.cbc.ca › news › canadaThis decade's oil boom is moving to offshore N.L. | CBC News

   www.cbc.ca › news › canada

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   Sep 1, 2022 · Global offshore investment should rise 27 per cent from 2021 levels to $173 billion in 2024, reversing a decade of decline and growing slightly faster than onshore investment, Rystad estimates.

6. www.cbc.ca › nl-oil-prices-march-25/2022/1In 2nd surprise price increase of the week, diesel, furnace ...

   www.cbc.ca › nl-oil-prices-march-25/2022/1

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   Mar 25, 2022 · The northeast Avalon is set at $1.65 per litre, central Newfoundland is $1.69, Corner Brook area is $1.66, Stephenville is $1.69 and the Northern Peninsula is $1.67. Stove heating oil increased by...

7. People also ask

   Why did oil prices rise 1% on Monday?

   • Oil prices rose about 1% on Monday, spurred by the prospect of strong summer driving demand and as tensions in the Middle East and drone attacks on Russian refineries led to concerns about supply. An easing U.S. dollar added to the crude price strength. Brent futures for August delivery settled at $86.01 a barrel, gaining 77 cents, or 0.9%.

   Oil prices rise on fuel demand expectations, easing U.S. dollar

   www.theglobeandmail.com/business/industry-news/energy-and-resources/article-oil-prices-edge-higher-as-demand-expectations-offset-us-dollar/

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   Will crude oil prices rise in 2024?

   • Although we expect crude oil prices to rise from early June levels, lower-than-expected Brent prices in May mean our forecast for 2024 is $84/b, 4% lower than our May forecast. Natural gas production. We expect U.S. marketed natural gas production to fall by 1% in 2024 because of low natural gas prices.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www.eia.gov/outlooks/steo/index.php

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   Will crude oil production grow in 2023?

   • U.S. crude oil production. U.S. crude oil production grows in our forecast by 2% from 2023 to an annual average of 13.2 million barrels per day (b/d) in 2024 and by another 4% in 2025 to 13.7 million b/d.

   Short-Term Energy Outlook - U.S. Energy Information Administration (EI…

   www.eia.gov/outlooks/steo/index.php

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   What was the highest crude oil price ever?

   • The highest ever historical WTI crude oil price was at $141.63 per barrel. Compared to today’s spot price that’s down 44.62%. Other significant recent historical highs include $77.74 per barrel in Jul, 2006 and $109.50 per barrel in Aug, 2013.

   Today’s Oil Price: Brent Crude & WTI Oil Prices Today

   commodity.com/energy/oil/price/

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8. www.eia.gov › todayinenergy › detailCrude oil prices increased in 2021 as global crude oil demand ...

   www.eia.gov › todayinenergy › detail

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   Jan 4, 2022 · According to our December 2021 Short-Term Energy Outlook (STEO) estimates, U.S. crude oil production in 2021 decreased by 0.1 million barrels per day (b/d) from 2020 and by 1.1 million b/d from 2019.