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Canadian oil prices to improve, curtailment to end in 2020: forecast

Source: Adam Toy, Global News, January 7, 2020

Canadian crude oil prices are expected to strengthen and natural gas prices are expected to continue to improve into 2020, according to professional services company Deloitte Canada.

“We’re really expecting 2020 to be a lot more constructive for oil and gas producers here in Canada this year than it was in 2019,” Andrew Botterill, national oil and gas leader with Deliotte Canada and the forecast’s author, told Global News.

“A little bit better on the oil market but for sure better for natural gas.”

In an oil and gas price forecast released Tuesday, Deloitte said it expects Canadian crude prices to rise moderately as a supply glut is drawn down by topped-up takeaway capacity via rail and pipeline, as well as because of the effects of extended production curtailments in Alberta.​

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Image Source: THE CANADIAN PRESS/Jeff McIntosh

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