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- Canadian oil inventories are already at their highest level since 2019, and they're poised to increase this month, according to Bloomberg data. Against the backdrop of that excess supply and lower demand, a widening price gap for Canadian oil makes perfect sense.
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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
Nov 11, 2021 · The latest bout of WCS differential widening is very much a good news/bad news story for Canadian oil producers. The good news: This (finally) isn’t a pipeline or Canada-specific problem. Moreover, quality differential widening has much less room to run compared to almost-ceilingless transportation-related discounting.
Jun 8, 2022 · Against the backdrop of that excess supply and lower demand, a widening price gap for Canadian oil makes perfect sense. WATCH | Why oil and gas prices are hitting record highs:
- 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...
Nov 20, 2018 · Alberta NDP MP Rachel Notley warned that the price gap between Canadian and international oil poses a “real and present danger to the Canadian economy.”
In this CEC Fact Sheet, we examine key metrics associated with the addition of new export pipeline capacity, including how this impacts market access, the oil price discount, global oil demand, and the accrual of benefits to the Canadian economy.
