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 2012
Canada’s Oil Extraction Industry: Industrial Outlook Summer 2012
Industry Economic Analysis
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- Production—Oil sands investment is starting to surge following a decade of heavy investment.
- Labour Costs—Western Canadian job markets are already tight, particularly in Alberta where the majority of investment is currently directed. Wage growth in the industry will be above average over the forecast.
- U.S. Market—U.S. import requirements will fall over the forecast. Canadian producers will either have to displace other countries in the U.S. import mix or find new markets for their incremental production.
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