COVID-19: Navigating the turmoil in Canada’s energy sector
Read this insightful report by EDC Economics for an overview of the global oil and gas crisis and its ramifications for Canadian producers.
With the rapid spread of COVID-19 around the world, demand for oil has fallen sharply causing prices to drop significantly. With the global economy in recession, other critical challenges facing Canadian oil producers include a lack of regional storage capacity, reduced demand from U.S. refineries due to current travel restrictions and the cancellation of major oil development capital expenditures and projects.
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