This industry profile provides a five-year forecast for Canada’s Oil and Gas Support Activities Industry.
Canada’s Oil and Gas Support Activities Industry: Industrial Profile Spring 2010
Canada’s Oil and Gas Support Activities Industry: Industrial Profile Spring 2010
Industry Economic Analysis
$550.00
- Oil Prices—Oil prices have risen significantly from their 2009 lows. Higher prices will have a direct impact on demand for support activities.
- Gas Inventories—Due to a warm winter and low industrial production, North American gas inventories are well above historical norms. That will keep gas prices low and limit drilling activity.
- Cost Increases—The recession only alleviated—it did not eliminate—labour and material shortages. As activity picks up this year, costs will begin to rise rapidly once again, squeezing profits.
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