Oil Extraction

The Conference Board of Canada’s Economic Trends Division is recognized worldwide for its expertise in economic forecasting, modelling and analysis. We have produced accurate economic forecasts for more than 25 years.

Key Indicators for Oil Extraction

Real GDP: Real gross domestic product (GDP) is a standard measure of industry  output and is equal to the total value that an industry creates. As such,  it is a measure of the industry’s contribution to economic growth. It is stated in millions of 2002 dollars and is reported by Statistics Canada.

Employment: Employment is the total number of full-time and part-time employees in a given industry. As part of its Labour Force Survey, Statistics Canada reports employment data monthly, in thousands.

Price Index: This indicator is a composite measure of the output prices for all the industry’s products. In the case of the oil extraction industry, an output price index was created as a weighted average of the Canadian par at Edmonton, Canadian heavy at Hardisty, and North Sea Brent at Montréal, where the weights are determined by production of the different types of oil. All price indexes are standardized in the form of an index where 2002 = 100.

Revenues: Revenues are the total receipts that an industry accumulates. They are a product of pricing and of production (which is equivalent to sales in 2002 dollars). The data are reported by Statistics Canada as part of its Quarterly Financial Statistics for Enterprises and stated in millions of dollars.

Costs: Costs are the sum of labour, material, and capital costs for each industry, where capital costs include both interest expense and depreciation expense. The data are reported by Statistics Canada as part of its Quarterly Financial
Statistics for Enterprises and stated in millions of dollars.

Profits: Profits are equal to revenues less costs and are stated before taxes or extraordinary items. The data are reported by Statistics Canada as part of its Quarterly Financial Statistics for Enterprises and stated in millions of dollars.

Profit Margin: The profit margin is the ratio of profits to revenues.

What Data Do We Forecast?

Forecasts and research often involve numerous assumptions and data sources, and are subject to inherent risks and uncertainties. This information is not intended as specific investment, accounting, legal, or tax advice.