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- 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 perfect storm of imbalances between supply and demand.
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Jun 8, 2022 · 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 the widest it'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...
- Price gap on heavy Canadian oil tops $30 per barrel, widest ...
Oil prices have fallen — so why is the price of gasoline...
- Why high oil prices aren't creating an economic boom in Canada
Dec 12, 2023 · Analysts say there are a number of factors at play here, namely geopolitical instability, fears of a global recession and hesitation around whether there will be follow through on oil output...
- 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...
Oct 14, 2022 · Oil prices have fallen — so why is the price of gasoline skyrocketing across Canada? The loonie has fallen to its lowest level in almost two years — here's why
Do you see oil prices remaining low in 2024? Stewart: I do see the first part of the year starting out a little lower. If we see a weakening economy, it will impact demand and send prices...
May 20, 2022 · High oil prices mean 'wicked profitability' when there's no surge in spending to go with it. Gas prices well over $2 per litre in Carleton Place, Ont., on Tuesday. Normally, this cost for Canadian ...
Aug 4, 2022 · The price of a barrel of oil fell to its lowest level since February on Thursday, as investors respond to growing fears that a looming recession will drastically reduce demand for energy.
