This report examines the short-and medium-term economic and profitability outlook for Canada’s Oil Extraction Industry.
Canada’s Oil Extraction Industry: Industrial Outlook Winter 2014
Canada’s Oil Extraction Industry: Industrial Outlook Winter 2014
Industry Economic Analysis
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- Price Differentials—The completion of the lower leg of the Keystone XL and Seaway projects and the opening of the BP Whiting Refinery are expected to support prices in the short term. However, abnormal spreads between North American and world prices will continue to hurt revenues.
- Conventional Oil Production—Conventional light oil production increased for the third consecutive year as the tight oil extraction methods that have increased U.S. production are being applied in Canada.
- Pipelines—Despite positive regulatory reports on the Keystone XL and Northern Gateway projects, a quick resolution for either project remains unlikely, forcing companies to turn toward other transportation methods.
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