Low Crude Prices and Their Impact on the Canadian Economy
Study Released September 29, 2015
Commodity Report - Crude Oil - August 2015
The significant decline in crude oil prices over the past 18 months has affected the world economy. Canada was no exception. Oil prices plunged by more than 50 percent, from around US$100 per barrel in summer 2014, to around $50 per barrel today (see Figure 1). Worse yet, Canada's oil output receives an even lower price: Western Canadian Select (WCS) which is a Canadian benchmark for heavy crude exports trades at a discount
to West Texas Intermediate (WTI) because of its lower quality and a regional supply glut..... Download full report.