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Nov 14, 2022 · Higher crude oil and mineral prices combined to drive up the value of Canada's natural resource assets in 2021. Overall, the dollar value of selected natural resource reserves totalled $1,444 billion in 2021, a 149% increase from 2020.
Sep 27, 2022 · In 2021, Canada's oil and gas extraction companies reported total assets of $452.9 billion, up 2.6% from 2020. Total capital assets increased 1.2% in 2021 to $380.0 billion as the industry reversed the write-offs incurred in 2020.
Oct 21, 2021 · Oil and natural gas prices have risen considerably over the past nine months. The price of Western Canadian Select crude oil (WCS, the benchmark price for Alberta oil) averaged US$45.13 per barrel in January 2021. By the first week of October, that price had increased to $64.78 per barrel.
As the data show, despite the severe decline in oil and natural gas prices between 2014 and 2017 and the resulting decline in economic activity, at 6.4 per cent in 2017, the oil and gas sector’s direct and indirect share of Canada’s GDP still produced the following effects on Canada’s economy.
Dec 26, 2020 · The spread of COVID-19 around the world this year squashed fuel demand, taking crude oil prices down with it. Those prices even turned negative at one point. Canada's oilpatch slashed...
Mar 24, 2022 · Overall, natural resource prices rose 4.6% in the fourth quarter. Natural gas prices rose 17.5% due to increased demand and extreme weather events. Crude oil prices were up 9.5%, supported by Organization of the Petroleum Exporting Countries Plus (OPEC+) controls on the increase in supply as demand continues to rise.
May 20, 2022 · The recent surge in oil prices is still a net benefit to Canada's economy, but not nearly to the extent that we have come to expect. High oil prices mean 'wicked profitability' when there's...
