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- 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.
www150.statcan.gc.ca/n1/pub/11-626-x/11-626-x2020007-eng.htmThe Decline in Production and Investment in Canada’s Oil and ...
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Jul 8, 2020 · Companies in the Canadian oil and gas sector reacted quickly to the drop in oil prices by adjusting capital expenditures. One major company, Suncor, put projects on hold and cut its 2020 capital budget by about $1.5 billion, or 26%, to deal with lower oil prices.
May 20, 2022 · Pain at the gas pumps in Canada is usually offset by a surge in spending and hiring by oil companies. The recent surge in oil prices is still a net benefit to Canada's economy, but not nearly to...
Jan 13, 2015 · The lower prices, if they are expected to persist, will significantly discourage investment and exploration in the oil sector. As I mentioned earlier, we are already seeing signs of this. Lower oil prices are also typically accompanied by a weaker Canadian dollar, and this time is no exception.
Feb 10, 2022 · Higher oil prices have always been a double-edged sword for Canada. On one hand, it’s positive for our large energy sector but on the other, it means consumers are shelling out more at the pumps while companies see increased input costs.
Oct 21, 2021 · A new study by the Fraser Institute compares several financial valuation metrics (price-to-earnings, price-to-sales and price-to-book value) for a portfolio of publicly-traded Canadian oil and gas companies to a portfolio of U.S. oil and gas companies.
Jun 8, 2022 · Canadian oil inventories are already at their highest level since 2019, and they're poised to increase this month, according to Bloomberg data.
Mar 7, 2024 · Canadian oil prices, benchmarked by Western Canada Select (WCS), have been depressed for many years due to pipeline shortages and refinery and transportation costs. The discount to West Texas Intermediate (WTI) has hovered between $18–20 over the past several years to reflect these hurdles (Chart 4), but that spread should narrow as a result ...
