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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
Newfoundland and Labrador -0.80 -2.2 -1.4 COVID-19 Impacts on Canadian Jurisdictions ($B) Note: Other provinces have not provided Budget/Fiscal Updates since COVID-19
29.3% in the first three quarters of 2019. Prices On a year-over-year basis, the Consumer Price Index (CPI) was 0.9% higher in the first nine months of 2019 (see chart). Lower prices for fuel oil (down 3.8%) and gasoline (down 6.1%) moderated the overall increase in the CPI. Both fuel oil and gasoline have been impacted by
Mar 9, 2021 · Crude oil prices reached historic lows in 2020, because of a combination of geopolitical issues and the collapse of demand during the pandemic. The monthly average crude oil and crude bitumen price index was one-third ( -3 3.7%) lower in 2020 compared with 2019.
Mar 11, 2020 · Release date: 2020-03-11. Newfoundland and Labrador is the dominant producer of crude oil outside of western Canada, producing approximately 6% of Canada’s total production in 2019. All five of Newfoundland and Labrador’s currently producing projects and recent discoveries are offshore [PDF].
Jul 27, 2020 · Newfoundland and Labrador: 2020–21 Fiscal Update. PANDEMIC, GLOBAL OIL PRICE SHOCK EXTEND RECOVERY. SUMMARY. COVID-19 is expected to drive Newfoundland and Labrador’s fiscal year 2020–21 (FY21) deficit to a near-record $2.1 bn (and a record 7.3% of nominal GDP) (chart 1) according to a fiscal update released Friday.
Within three months, the price had plunged to $9.12 (USD) and recovered somewhat to stand at $50.22 (USD) at the end of 2020. In those 12 months, oil exploration and production company strategies made a pivot from exploration expansion to managing reduced cash flows.
