Canada’s Oil Extraction Industry: Industrial Outlook Winter 2015

The Conference Board of Canada, 12 pages, March 24, 2015
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This report examines the short-and medium-term economic and profitability outlook for Canada’s Oil Extraction Industry.

Document Highlights

  • Prices—Oil prices collapsed in the second half of 2014 as supply growth was met with underwhelming demand, resulting in swollen inventories.
  • Investments—The low prices have resulted in a number of project delays in the oil sands and a sudden plunge in drilling activity. Investment spending is expected to fall through 2016.
  • Oil Sands Production—Despite the low prices, production from the oil sands will continue to grow in 2015 as a number of projects currently under construction are completed and as the industry improves capacity utilization.

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