PSAC provides outlook into oil and gas for 2019
GRANDE PRAIRIE — Companies and workers in the oil and gas industry in the Peace Country had a chance to hear from the Petroleum Services Association of Canada on Friday morning in Grande Prairie, as a look ahead to the industry in 2019.
President and CEO of the association Gary Mar spoke to attendees about the forecast of many areas within the Canadian energy sector.
The forecast was not overly positive, nor was it negative.
PSAC is forecasting an average price of $57 USD a barrel for the benchmark West Texas Intermediate, down from the 2018 average of nearly $65 USD. PSAC is also expecting that the Loonie, as well as natural gas, remain consistent with 2018 valuations.