Search results
Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. 2022-23; 2021-22; 2020-21; 2019-20; 2018-19; 2017-18; 2016-17; Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration
The section below provides some of the 2017 highlights and 2018 expectations for the Newfoundland and Labrador economy. The Economy 2018 5. Consumer prices rose by 2.4% as gasoline and fuel oil prices put upward pressure on the overall price level.
Highlights. Our forecast for global demand growth remains unchanged at 1.5 mb/d in 2017 (or 1.6%) and 1.3 mb/d in 2018 (or 1.3%). Revisions have been made to data for Nigeria, Germany and Iraq. The baseline for oil demand has been raised by roughly 0.2 mb/d.
The purpose of this report is to show how the oil and gas industry impacts the Newfoundland and Labrador economy and how potential growth in output in the years ahead could benefit the province. Specifically, the report will address: • The current economic impact of the offshore oil industry on the Newfoundland and Labrador economy, including:
Sep 1, 2017 · In Newfoundland and Labrador of Canada, Millard et al. (2017) confirmed that negative oil price shocks has a significant long-run influence on the state GDP, household income, household ...
Highlights. Demand estimates in 2017 and 2018 are roughly unchanged at 97.8 mb/d and 99.1 mb/d respectively. A 40 kb/d downward revision to 2016 demand, however, pushed up the 2017 growth to 1.6 mb/d, while our growth estimate for 2018 remains unchanged at 1.3 mb/d.
People also ask
Does Newfoundland and Labrador's offshore oil and gas industry have economic impact?
What is the forecast for global oil demand?
How much money does Newfoundland & Labrador make from offshore oil & gas?
How does oil and gas extraction affect Newfoundland and Labrador's GDP?
The price of Brent crude oil, a benchmark for Newfoundland and Lab-rador oil, averaged US$43.67/barrel in 2016, down 16.5% from an average of US$52.32/barrel in 2015. Despite recording a lower annual average price in 2016, Brent prices have been trending upward since January 2016 (see chart on next page).
