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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
Aug 16, 2023 · In 2022, Canada imported 9,000 b/d more crude oil from Saudi Arabia than the year before. Canada imported 50% less oil from Nigeria relative to the prior year and did not import oil from Azerbaijan in 2022, reflecting drops of 31,000 b/d and 11,000 b/d, respectively.
Sep 23, 2022 · Oil prices continued to tank on Friday, posting a fourth straight week of declines and falling to their lowest level since January amid rising fears that a looming economic downturn will hurt...
- Sergei Klebnikov
Selected Crude Oil Prices December 2022 (Canadian dollars per cubic metre) Note: No prices are reported on weekends and American statutory holidays. Did you find what you were looking for?
- Less Investment Appetite
- Record-Setting Profits
- 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...
Sep 30, 2022 · On a day when the benchmark price for a barrel of oil lost about a dollar, gasoline prices skyrocketed in parts of the country on Thursday, with Thunder Bay seeing average prices jump by as...
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Jan 18, 2023 · Excluding energy and petroleum products, prices of products sold by manufacturers in Canada were up 8.4% in 2022, the second highest increase on record since the inception of that category in 1980, surpassed by 2021 (+11.5%). Prices for food products made by manufacturers in Canada rose in 2022.
