April 8, 2025, 12:21 pm
Leaders in Canada’s oil and gas sector are addressing significant market volatility prompted by a recent drop in crude oil prices. With key export markets, notably the United States, under pressure, industry figures are strategizing ways to balance immediate market challenges with the need for long‐term investment and competitiveness. The discussion revolves around maintaining stability in a turbulent global energy market while adapting to shifting economic realities that impact production and profitability.
West Texas Intermediate crude prices have lost about US$10 over the last week to hover around US$60 a barrel.
Canada’s top oil and gas leader, Lisa Baiton, said companies are navigating market upheaval with an eye toward long-term demand, noting the U.S. remains a key customer for Canadian oil and gas.
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