Canadian producers will respond to volatility with more focus on debt repayment and shareholder returns over capital investment. Read on.
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Deloitte’s forecast suggests natural gas prices, which saw huge swings in 2022, will continue to see volatility with growing storage volumes in Europe and North America coming up against fears Russia will cut off gas supply entirely to the European Union. Discounts on Canadian crude, which have been widening since June, could also persist into 2023. Deloitte is calling for an average of $74.30 per barrel for Western Canadian Select this year.Article content
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