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, Winter 2008
Canada’s Oil Extraction Industry: Industrial Outlook, Winter 2008
Industry Economic Analysis
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- Crude Oil Prices—Even though crude oil prices are expected to decline, they will remain well above historical averages.
- Exports—With domestic demand expected to increase only modestly over the forecast period, additional production will be shipped almost entirely to foreign markets.
- Costs—Labour and materials are still scarce for the oil industry, sending the costs of these inputs soaring. Rising costs will continue to be a major concern for energy companies, particularly in Alberta, the heart of Canadian production.
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