Canada’s Oil Patch To Turn Profitable In 2018
Canada’s oil patch booked three consecutive years of hefty losses after the oil prices crash in 2014. This year, the industry is set to post a very slim gross profit—the first profit in four years. Despite the expectation that the tide is finally turning for Canada’s oil producers, significant challenges remain, with constrained pipeline capacity and limited capability to expand export markets the biggest of them all, the Conference Board of Canada said in a report last week.
