Analyst Michael Dunn of Stifel FirstEnergy says prices continue to be below the levels at which most Calgary oil companies can afford to fund their sustaining capital needs and dividends, especially given subdued profit margins from refining.
Since the price of oil nosedived in 2015, the industry has weathered hard years marked by layoffs and job losses. Coupled with the crippling onset of the COVID-19 pandemic, one worker said there isn't a lot of optimism out there about the future of the industry.
A family-run company providing air-tanker support to control menacing wildfires in British Columbia, Alberta, Manitoba and Yukon is a little less busy these days, but it has nothing to do with the COVID-19 pandemic.
Canada's COVID-19 caseload edged closer to the 200,000 mark on Sunday after a weekend in which Quebec had the majority of new infections and public health officials urged Canadians to remain united in their efforts to combat the pandemic.
There is nearly no place in America where COVID-19 case counts are trending in the right direction as the country heads into what health experts say will be the most challenging months of the pandemic.
The Canadian government isn't ruling out the possibility of taking a stake in Canadian airlines, like WestJet and Air Canada, as ministers consider how to help the sector in its struggles amid the COVID-19 pandemic.