Insight
Canada's oil sands: Q1 2020 promise evaporates as global prices plummet
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The first quarter of 2020 started on a positive note and ended with a growing negative outlook. OPEC+ conflict, severe demand destruction and looming storage issues conspired to create an unparalleled price global price collapse. For the third time in six years, Canadian companies must battle to survive in a low-price environment. Read on to see how the first quarter played out and how oil sands companies have responded so far. And, as ugly as the first quarter looks, data indicates the second quarter will be even worse.
Table of contents
- Executive summary
- Benchmark crude prices
- WCS price performance
- Bitumen and SCO realisations
- Q1 production
- Curtailment update
- Capital expenditure and operating cost changes
- What are companies saying?
- An unparalleled crisis
Tables and charts
This report includes the following images and tables:
- Benchmark pricing
- Benchmark price performance
- Historical WCS pricing
- Realised pricing
- Project self-curtailed volumes
- Annual production forecast
- 2020 capex changes
- 2020 opex changes
What's included
This report contains:
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