The Canadian Industrial Outlook Service includes detailed five-year forecasts in 16 key Canadian industries. The report examines the short- and medium-term economic and profitability outlooks for these industries.
Canada’s Oil Extraction Industry: Industrial Outlook, Summer 2007
Canada’s Oil Extraction Industry: Industrial Outlook, Summer 2007
Industry Economic Analysis
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- Oil Prices—Although prices are forecast to decline from their record-high levels of 2006, they will remain well above historical norms over the forecast horizon.
- Non-Conventional Production—The completion of large investment projects in the oil sands will bolster crude production throughout the forecast period.
- Labour and Material Costs—Labour and material shortages are sending costs spiraling upward to near prohibitively high levels. Rising costs are expected to be the major concern for energy companies, particularly in Western Canada.
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