Oil Prices Are Skyrocketing, $100 Per Barrel Becomes Reality

in Canada by

Oil prices are surging near the $70 mark for the first time in three years.

Three years after the devastating oil price crash, optimism is back in the industry as prices are surging toward $70 US per barrel, and thoughts of $100 return.

The rosy outlook is a far cry from early 2016, when prices dropped below $30 US per barrel.

 

The enthusiasm has even spread to Alberta, although it is tempered. Prices are climbing on the Prairies, at least for the time being.

First, Bloomberg reported one week ago Saudi officials were pushing to get oil up to $80 a barrel, then Reuters reported some are now talking of hitting the century mark.

CBC.

Oil prices in Alberta and Saskatchewan have put the economy in a bad position, along with that came carbon tax and other bad decisions that drove investors out, will they come back?