More positive outlook for oil in 2017


There is a more positive outlook for the oil sector in 2017.

Scotiabank released an optimistic report suggesting that the oil could finally get back on track.

Derek Holt, Vice President of  Scotiabank Economics Derek Holt says oil prices have recovered pretty well since the beginning of 2016.

Even in a continued recovery in 2017, Holt thinks that it will still take two-five years before Canada can raise it’s 4.7 percent share of oil production because they still have to wait on pipelines.

  • Jacob LeBlanc