Canada: Oil and gas extraction industry facing highest prices since 2014 - NBF
|According to Marc Pinsonneault,
Key Quotes:
“According to Statistics Canada, oil and gas extraction and support activities realized on the Canadian territory experienced an operating loss of C$163 million in Q1 2018, following a C$125 million gain in Q4 2017.”
“This loss was mostly related to the enlargement of the light-heavy oil price differential (WTI-WCS spread), which reached US$25.73 on average in the first quarter.”
“When movements in the USDCAD exchange rate are factored in, the WCS price expressed in Canadian dollars is averaging C$66.29 so far in Q2, almost C$20 above
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