Earlier in the year, Wall Street was mostly bullish about the prospects of Canada’s Oil Patch with the sector expected to resist a sharp downturn in the current year. Unfortunately, expectations have now taken a turn for the worse: earnings in Canada’s energy industry are now expected to decline 19% over the course of 2023 compared to previous projections of a more modest 8% decline.
The biggest reason for the poorer outlook is falling gas prices, which have hit Canadian oil and gas companies particularly hard. Natural gas prices have…$70 Oil Creates Opportunity In Canadian Oil Stocks
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