A boom in sales of drilling rights in western Canada’s oil heartland of Alberta is fading as US President Donald Trump’s trade war and OPEC+ production increases hammer crude prices.
The average price paid to lease oil sands lands for development tumbled to C$771 per hectare this year, according to provincial data. That’s down 18% from last year’s average, which was the highest since 2007. For lands outside of the oil sands, the price has fallen 25%.
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