Changes in oil prices have significant implications for Canada’s economy. But, because the Canadian economy is not uniform in its structure across provinces, provinces, sectors and industries face differing impacts in different ways.
In this webinar, learn how future oil price movements can impact Canada’s economic and fiscal performance, based on three scenarios of West Texas Intermediate (WTI) prices from 2016 to 2025:
- The “reference” or most likely scenario—This scenario is consistent with the Conference Board’s prevailing view of the global economy where crude prices begin to rebound from their current low levels in 2016 and gradually improve over the next 10 years.
- A “high price” scenario—The Canadian dollar price for WTI is expected to surpass $100 per barrel by 2021 in this scenario. Price growth will slow after that, but prices will remain persistently above $110 per barrel in 2022 and beyond. Under this scenario, the economics of developing high-cost projects would be favourable.
- A “low price” scenario—The Canadian dollar price for WTI would bottom out at $35 per barrel in 2017 under this scenario before they gradually recover in 2018. The near-term prices in this scenario are sufficiently low that almost no new projects or basins in Canada would be economical.
Join Michael Burt for insights and analysis on an economic factor that affects the prosperity prospects for every Canadian.