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Jun 8, 2022 · Analysis. Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's...
- Why high oil prices aren't creating an economic boom in Canada
The recent surge in oil prices is still a net benefit to...
- Why high oil prices aren't creating an economic boom in Canada
Jan 26, 2022 · FCC projects canola acres to gain the most in 2022, with global and Canadian stocks so low, prices so high and a crop that will be highly profitable. Any further strength in the oilseeds markets will only bolster canola prices before planting.
Jan 9, 2024 · A new report by Deloitte Canada calls for U.S. benchmark oil prices to average US$72 per barrel this year. (HeliRy via Getty Images) Oil and gas prices are set to trade at two-year lows through...
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- Less Investment Appetite
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- Demand Flexible, But Steady
The last time the global price of oil surged this high, starting in 2008, there was a surge in investments and a hiring boom. Commodity expert Rory Johnston says years of low prices and low profits have made companies wary of moving too quickly this time. "There's a lot of scarring that occurred over the past decade," said Johnston, author of the n...
Higher oil prices are still a net positive for the Canadian economy, said CIBC's Shenfeld, but things are different this time. "When they're caused by disruptions in the global economy they are not as powerful as when they are caused by strength in economic activity around the world," he said. As the price of oil has skyrocketed these past few mont...
So will the high prices stay? These past two years have been some of the most tumultuous and volatile in modern history. It's easy to wonder if maybe things have changed. "I have an allergic reaction as an economist to any claim that this time is different," said Brett House, formerly the deputy chief economist at Scotiabank. He says there were man...
Mar 8, 2022 · The Canadian dollar is no longer growing at a pace tied to oil prices, exacerbating pains at the pumps and putting more pressure on the Bank of Canada to tame inflation.
Jul 14, 2022 · Greater downside risk to prices is in 2023. The greater potential for an oil price undershoot is not so much over the next few months, but in 2023. For example, the EIA’s price forecast of nearly $100 next year imbeds the assumption that global growth would run at a healthy 3.4% next year.
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Jan 5, 2022 · The forecast indicates increased Canadian production of crude oil, coupled with additional OPEC+ production has pushed up the differential between WCS prices and those for WTI by almost 200 per cent since November 2020, bringing them closer to historical values.
