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Mar 25, 2020 · As of Friday 20 March 2020, the spot price for West Texas Intermediate (WTI) crude oil decreased by 65% from its price on 6 January 2020. Over the same time period, the price for Western Canadian Select (WCS) crude oil in Alberta fell by 72% from US$40 per barrel (US$/bbl) to US$11/bbl.
Jul 28, 2021 · The Canadian oil and gas extraction industry was found to have almost recovered in terms of production, employment and exports after experiencing sharp declines in economic activity as oil prices plummeted early in the COVID-19 pandemic.
Jul 8, 2020 · Oil prices dropped sharply in March as the COVID-19 pandemic unfolded and as Russia and Saudi Arabia failed to reach an agreement to support oil prices by limiting production. In response, oil companies in Canada reacted by adjusting down both capital expenditures and production plan in 2020.
Apr 21, 2020 · Oil companies in Western Canada and offshore Newfoundland were already drastically reducing costs, slashing payroll and pulling back on oil production in recent weeks with commodity prices...
Nov 23, 2022 · Investments in Canadian oil and gas are rising from their 2020 lows due to higher prices. But other factors are becoming more important for the industry, such as environmental, social, and governance (ESG 1) considerations and net-zero emissions policies.
Feb 22, 2022 · Key Takeaways. In 2020, worldwide demand for oil fell rapidly as governments closed businesses and restricted travel due to the COVID-19 pandemic. An oil price war between Russia and Saudi...
Apr 14, 2021 · Overall, Canada imported less crude oil in 2020 than 2019 largely due to the impacts of the COVID-19 pandemic in reducing refinery demand. The cost of the total oil imported also declined substantially, as not only were import volumes lower, but global prices dropped early in the pandemic.
