NewsOil & GasProvincial
Canada’s Oilpatch Poised To Report First-Quarter Gush Of Cash
Source: Dan Healing The Canadian Press, globalnews.ca, April 19, 2021
On Friday, the WTI price settled at US$63.19 per barrel, a level at which most production in North America, including in the Alberta oilsands, is profitable.
One year after oil prices crashed to their first and only negative close during a perfect storm of energy demand bad news, Canada’s oilpatch is poised to report a first-quarter gush of cash flow thanks to a dramatic recovery in global demand.
On April 20, 2020, the U.S. benchmark West Texas Intermediate near-month contract price ended the day down a whopping US$55.90 at an unprecedented $37.63 per barrel.
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