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 2008
Canada’s Oil Extraction Industry: Industrial Outlook, Summer 2008
Industry Economic Analysis
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- Crude Price—Crude prices will remain well above historical averages throughout the forecast period, driving revenue growth and keeping profits elevated.
- Production—Years of investment are finally paying off in Western Canada. Production is poised to expand rapidly over the coming years, providing a boost to the entire economy.
- Soaring Costs—Labour and materials are scarce in the industry, particularly in the West, forcing the costs of these inputs to increase. Rising costs are now a part of doing business in the oil industry, and will remain an ongoing concern heading forward.
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