Oil price crash: Canada’s oil sands braces for another battle
Plunging prices again endanger Canada's oil sands sector. If Brent averages US$35/bbl for 2020 we expect project owners to lose Cdn$23 billion. The sector has changed since 2015. Lessons learned from previous global and regional price shocks must be applied. Decisive action needs to be taken. This is not the death knell for oil sands, but the realities of negative cash flow must not be underestimated. Read on to see what we expect in 2020.