Low oil prices reduce future supply
Low oil prices could amplify existing supply constraints, new research from the Bank of Canada posits.
The research shows that the recent drop in oil prices had an impact on investment in the oil sector and that a growing number of investment projects are suffering from delays and cancellations. The analysis shows that the weak investment outlook will put upward pressure on prices. The analysis estimates that the expected post-crisis increase in emerging-market demand, coupled with the tepid
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