• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Oil and Gas Market
    Oil and Gas News
    Oil and Gas Stocks
    • Oil and Gas Market
    • Oil and Gas News
    • Oil and Gas Stocks
    market news

    Canadian Oil Industry Expected to Lose $2.1 Billion in 2015, Says Conference Board

    Kristen Moran
    Oct. 28, 2015 09:57AM PST
    Oil and Gas Investing

    CBC News reported that the Canadian oil industry could love $2.1 billion in pre-tax income in 2015 despite massive spending cuts, according to an outlook from the Conference Board.

    CBC News reported that the Canadian oil industry could love $2.1 billion in pre-tax income in 2015 despite massive spending cuts, according to an outlook from the Conference Board.
    As quoted in the market news:

    Industry revenues will fall by 22 per cent this year and investment levels are expected to be down by 39 per cent since 2014, according to the Canadian Oil Industry Outlook released Wednesday by the think-tank.
    It says job opportunities in the oil and gas industry have shrunk by 7.4 per cent.
    And while 2015 may be the low point for Canada’s oil and gas players, the recovery is unlikely to happen quickly, the report said.
    Low crude oil prices, with benchmark West Texas Intermediate crude now below $45 US a barrel, will linger for several years, it predicts. WTI is unlikely to return to the $70 a barrel level until 2019.
    Global demand for oil will recover only slowly, it says, in part because of slow economic growth, but also because the world’s industries are becoming more efficient. It takes less oil each year to create a unit of economic growth.

    Click here to read the full CBC News report.

    gas industrymarket newscanadathe oil and gas industryoil and gas industrycanadian oil
    The Conversation (0)

    Go Deeper

    AI Powered
    Oil pumpjack with financial graph overlay, blue and orange lights.

    Oil and Gas Price Update: Q1 2025 in Review

    Oil & Gas Outlook: World Edition

    Oil & Gas Outlook: World Edition

    Latest News

    Westport Files Preliminary Short Form Base Shelf Prospectus To Replace Expired Base Shelf Prospectus

    Angkor Resources Advances Seismic Program With Enercam's Oil & Gas Block VIII, Cambodia

    Charbone Hydrogene annonce des mise-a-jour sur le projet phare de Sorel-Tracy, franchissant plusieurs etapes cles cette semaine

    CHARBONE Hydrogen Provides Update on Flagship Sorel-Tracy Project, Achieving Multiple Key Milestones This Week

    Response to ASX Price and Volume Query

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Stocks

    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×