The U.S. imported almost 700,000 barrels per day of crude oil and petroleum products from Russia in 2021
The Canadian dollar's fortunes are more tied to interest rates
The surplus is another pendulum swing for a province that for decades has been riding the dizzying highs and subterranean lows of oil and gas prices
Europe receives close to 40% of its natural gas from Russia
Higher world oil prices the primary effect for Canadian economy, policy
In the worst-case scenario, oil prices could skyrocket
Bank of Canada deputy governor Timothy Lane said Wednesday the central bank still expects inflation rates to come down quickly in the second half of the year
Some of the major oil producing nations agreed to add 400,000 barrels per day in March. Brent crude was priced at US$90.09
Cap spending was $27 billion in 2021, down from $81 billion in 2014. Cancelled pipeline projects are among the reasons many now see Canadian oil and gas as a ‘difficult place to invest’
Rebound to push oil appetite above pre-pandemic levels, Moody's says