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Sproule Price Forecast

Every month, Sproule prepares commodity price forecasts for the oil and gas market. The forecast reflects Sproule’s short and long-term views of key global and regional oil and gas commodity price markers and relies on Sproule’s proprietary models, analysis and insights.

July 31, 2017

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Disclaimer: Prices and forecasts are subject to change at the discretion of Sproule. Read More

Price Forecast Adjustment Notice - July 31, 2017

In the last month, we have seen the Canadian dollar strengthen with respect to the US dollar, largely because of the Bank of Canada’s recent interest rate hike. Sproule has increased its outlook for the CAD/USD exchange for 2017 and 2018 from 0.78 to 0.80 for both years.  Uncertainty surrounding the effects of Brexit has continued to put downward pressure on the British Pound. Sproule has revised our GBP/USD outlook down from 1.40 to 1.35 long term. Edmonton Butane prices have been lower than anticipated throughout 2017. Sproule has revised our Edmonton Butane price outlook down from 68% to 65% of WTI for the remainder of 2017. Longer term, we still anticipate strong demand for Edmonton Butane from refineries and SAGD operations. Lastly, on the “Par Prices” tab of our forecast spreadsheet, we have removed the NGL Transportation and Fractionation Allowances numbers as these numbers are no longer being made readily available each month. 

Sproule has adjusted its July 31, 2017 price forecast as outlined in the table below:  

Year 

CAD/USD Exchange Rate

GBP/USD Exchange Rate

Edmonton Butane as a % of WTI

 

June 30, 2017 Forecast

July 31, 2017 Forecast

June 30, 2017 Forecast

July 31, 2017 Forecast

June 30, 2017 Forecast

July 31, 2017 Forecast

2017

0.78

0.80

1.35

1.35

68%

65%

2018

0.78

0.80

1.40

1.35

70%

70%

2019

0.82

0.82

1.40

1.35

70%

70%

2020

0.85

0.85

1.40

1.35

70%

70%

2021

0.85

0.85

1.40

1.35

70%

70%


 

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