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OIL MARKET - A YEAR IN REVIEW

Oil Market - A Year in Review

Study Released December 31, 2016

Commodity Report - Crude Oil - November - December 2016

Low crude oil prices had an ever lasting effect on not only the energy sector in Canada and worldwide, but on the Canadian national economy, especially in the provinces that rely on the oil and gas sector’s performance. The impact resulted in empty office towers, laid-off energy workers, and double-digit unemployment rates in the hardest hit province of Alberta. All the economic indicators at the beginning of 2016 were weak. In the midst of climate and energy policy – both federal and foreign – the picture was equally troubling for a Canadian energy sector already beaten since the summer of 2014, when the collapse in oil prices began. In short, it was not a promising start to the year..... Download full report.

November-December 2016