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Crude oil exports account for 10% of Canada's GDP. USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar appreciates. CAD peaked out and reversed before oil prices did in 2008 and 2014.
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The Bank of Canada commodity price index (BCPI) is a chain Fisher price index of the spot or transaction prices in U.S. dollars of 26 commodities produced in Canada and sold in world markets. You can download BCPI data and read about its components and methodology. Data. Monthly BCPI. CSV. JSON. XML. Weekly BCPI. CSV. JSON. XML. Annual BCPI. CSV.
- Crude oil price. The price of crude oil is the most important factor that drives production and investment in the oil and gas extraction sector. Chart 1 presents movements in two of the most relevant crude oil prices for Canada, the WTI and the Western Canadian Select (WCS) from January 2019 to February 2021.
- Production and employment. Chart 2 presents monthly production and employment in the oil and gas extraction industry and in all industries as a whole from January 2019 to April 2021.
- Crude oil and merchandise exports. The global value chain and, therefore, merchandise exports have been greatly affected by the pandemic because of declining demand.
- Capital expenditures. Capital expenditures in oil and gas extraction are highly related to crude oil price. Lower oil prices will drive down the profit level of oil and gas extraction and ultimately discourage investment in the industry, and this will affect its production capacity in the long term.
May 31, 2024 · The oil industry in Canada has direct operations in seven of Canada's thirteen provinces and territories, including offshore. Since the 1990s, oil production has more than doubled in...
Jun 4, 2024 · Oil prices continued their slide on Tuesday on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.
Oil Price Charts. Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison...
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Oct 14, 2022 · A barrel of the North American oil benchmark is changing hands for about $90 US a barrel right now, but the heavy crude that comes from Canada's oilsands is fetching $30 less because of a...
