Monday, August 11, 2025

Canadian Oil and Gas Spending Expected to Drop 62% by the End of 2016

Canadian Association of Petroleum Producers forecasts a $50 billion drop in spending The dramatic fall in oil prices has been felt around the world, particularly in major oil producing countries like Canada, where the benchmark WCS crude oil sells at a significant discount to global benchmark Brent crude. Because producing from Canadian assets has become increasingly uneconomical, operators are cutting