CALGARY – The Conference Board of Canada has some bad news for those hoping the crude oil downturn will be short-lived.
In its latest report, the Ottawa-based think tank says the industry is unlikely to bounce back as quickly this time as it did after the last major drop in 2008 and 2009.
Crude prices saw a much more drastic drop the last time around – touching records above US$140 a barrel and lows around US$33 in a half-year span – but by 2011, were back above US$100.
This time, the board says prices aren’t likely to climb above US$80 a barrel in the foreseeable future – thanks to drilling technology that has unlocked huge volumes from U.S. tight oil formations.
The outlook through 2019 is about US$30 below what the board had forecast during the first quarter of 2014.
The Conference Board predicts revenues will drop by 38 per…
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The stars of the big screen descended on Macau on Wednesday evening for the 9th Asian Film Awards. Here’s our selection of red carpet favourites.
from South China Morning Post – News feed http://ift.tt/1IuIzMV
庆祝easy-forex 易信荣获 2013领航中国金融行业年度评选最具投资者信赖奖 – http://bit.ly/NklKoc