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 Summer 2011
Canada’s Oil Extraction Industry: Industrial Outlook Summer 2011
Industry Economic Analysis
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- Investment—Significant investment in new capacity in the oil sands is laying the foundation for a strong production outlook going forward.
- Price Divergence—The North American benchmark price for oil has lagged behind other benchmark oil prices in recent months. And the inability of Canadian oil producers to ship their product outside of North America has meant that they have been unable to maximize their received prices.
- Costs—Labour markets are expected to be very tight for years to come, which will translate into higher wage costs.
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