{"id":51841,"date":"2024-10-21T12:01:31","date_gmt":"2024-10-21T12:01:31","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/10\/21\/oil-prices-could-be-cut-in-half-if-saudis-open-the-taps\/"},"modified":"2024-10-21T12:01:31","modified_gmt":"2024-10-21T12:01:31","slug":"oil-prices-could-be-cut-in-half-if-saudis-open-the-taps","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/10\/21\/oil-prices-could-be-cut-in-half-if-saudis-open-the-taps\/","title":{"rendered":"Oil prices could be cut in half if Saudis open the taps"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">$30 crude could challenge viability of oilsands projects<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Oct 21, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">4 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"9b1de8c0-ffce-4cd0-b994-046d05963870\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">Capital Economics says Saudi Arabia has the means, motive and opportunity to reverse its oil policy as it did in the price wars of 1985 and 2015.<\/span> <span class=\"credit\">Photo by MARK FELIX\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=288&sig=hKuq-wskY5lKlkFQgM-QTg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=288&sig=hKuq-wskY5lKlkFQgM-QTg,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=90&strip=all&w=576&sig=tP-X7ZqT8GHw4xLHdd3KpA 2x\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2023\/01\/fp-posthaste-LOGO-01132023.jpg?quality=5&strip=all&w=100&sig=EcCPhKPRlZdph65uTZxLMA&ssl=1\" alt=\"\" height=\"320\" loading=\"lazy\" width=\"760\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><\/figure>\n<p data-async=\"\">With oil demand cooling and supply on the rise, the idea that Saudi Arabia would open the floodgates anytime soon might seem unlikely.<\/p>\n<p data-async=\"\">Yet some economists say the odds are rising and such a ramp-up could cut crude prices in half and have repercussions for higher-cost producers such as Canada\u2019s oilsands.<\/p>\n<p>Capital Economics says Saudi Arabia has the means, motive and opportunity to reverse its oil policy as it did in the price wars of 1985 and 2015.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment9852575663811566390060286553882624\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-2\">\n<div class=\"ad__inner__container\" data-ad=\"[[6,6],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"6x6\" data-ad-loc=\"2\" data-ad-mobile=\"[[6,6],[320,50],[300,50],[300,250],[300,600]]\" data-aqa=\"advertisement\" id=\"ad-2\" style=\"--desktopHeight:250px;--mobileHeight:600px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<div class=\"article-block article-block-bg article-content__sign-in-group hidden\" data-aqa=\"identity-sign-in\" data-async=\"\" id=\"article-block\">\n<section class=\"row\">\n<header class=\"identity-intro col-xs-12 col-md-6 flex-justify-center\">\n<div class=\"col-xs-12 col-sm-10 col-md-10\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg 1600w\" alt=\"Financial Post\" class=\"market-logo\" height=\"37\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/identity\/logo-identity-fp.svg\" width=\"280\"\/><\/p>\n<div class=\"intro-body__premium hidden\">\n<p>THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman, and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__register hidden\">\n<p>SUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Subscribe now to read the latest news in your city and across Canada.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Exclusive articles from Barbara Shecter, Joe O&#8217;Connor, Gabriel Friedman and others.<\/li>\n<li>Daily content from Financial Times, the world&#8217;s leading global business publication.<\/li>\n<li>Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\n<li>National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\n<li>Daily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__anonymous\">\n<p>REGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account.<\/li>\n<li>Share your thoughts and join the conversation in the comments.<\/li>\n<li>Enjoy additional articles per month.<\/li>\n<li>Get email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n<div class=\"intro-body__registration_only hidden\">\n<p>THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\n<p class=\"identity-intro__description\">Create an account or sign in to continue with your reading experience.<\/p>\n<ul class=\"list-unstyled list-checkmark\">\n<li>Access articles from across Canada with one account<\/li>\n<li>Share your thoughts and join the conversation in the comments<\/li>\n<li>Enjoy additional articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p data-async=\"\">The economists now see a 30 per cent of Saudi ramping up production by the end of next year, and will be watching the December OPEC+ meeting as a potential flashpoint.<\/p>\n<p>\u201cOne of the lessons from 2014 and 2020 was that a breakdown of negotiations around these meetings led to Saudi shifting tack,\u201d said Kieran Tompkins, Capital\u2019s climate and commodities economist.<\/p>\n<p>In September, the OPEC+ alliance, which includes Saudi Arabia and Russia, two of the world\u2019s top three oil producers, agreed to extend output cuts until December, and then gradually increase production.<\/p>\n<p data-async=\"\">If Saudi Arabia changes tack and rapidly ramps up supply oil prices could drop even lower than they did in 2016 because now the kingdom has even greater spare capacity, he said.<\/p>\n<p>Historically, other members of OPEC have tended to follow suit when the Saudis increased production, which would add another million barrels a day to the Saudis\u2019 3.5 million barrels of spare capacity.<\/p>\n<p>United States oil production has also changed. In the last Saudi \u201cprice war\u201d U.S. oil output initially fell as producers buckled under unsustainable prices.<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot22 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-execsummary background--primary-light-gradient\" aria-labelledby=\"FinancialPostPosthaste4337709387437271347731124799406080\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_ExecSummary\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg 1600w\" alt=\"Posthaste\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.2.2\/websites\/images\/newsletters\/icon-fp-posthaste.svg\"\/><\/div>\n<div>\n<p>Posthaste<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_ExecSummary\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Posthaste will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_ExecSummary\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment3114179144562951578389893374541824\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The U.S. producers that survived are leaner, more efficient and able to withstand lower oil prices, said Tompkins.<\/p>\n<p>\u201cSo, while the last time Saudi flooded the market breakeven prices were between $70-90 pb, now they are roughly $40-50 pb in key regions,\u201d he said.<\/p>\n<p>Another important factor that separates today from the past is weakening demand growth.<\/p>\n<p data-async=\"\">In a report this month, the International Energy Agency forecast that fossil fuel demand would peak by the end of the decade.<\/p>\n<p>Capital says while lower prices might spur some pickup in demand, it would not be enough to fully absorb \u201cthe tide of oil\u201d coming onto the market.<\/p>\n<p>\u201cIn short, considerable spare capacity in OPEC and more resilient producers in the U.S. mean that prices could easily halve, to around US$30-40 per barrel, if Saudi Arabia quickly ramped up output towards its capacity,\u201d said Tompkins.<\/p>\n<p>\u201cAt that sort of level of prices, the viability of higher cost projects yet to be developed, such as those in Canada\u2019s Oil Sands region, could be curtailed, and have macroeconomic impacts.\u201d<\/p>\n<p data-async=\"\"><em><strong>\u00a0Sign up here to get Posthaste delivered straight to your inbox.<\/strong><\/em><\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment2168384854767988477499134739218432\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-1758646\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_leading.png?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"retail sales chart\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=90&strip=all&w=288&sig=oLyFtEEcDGwVqyxMOInq3w\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=90&strip=all&w=288&sig=oLyFtEEcDGwVqyxMOInq3w,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=90&strip=all&w=576&sig=DJsZ8LpKS147XgoRF4FehQ 2x\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/retail-sales-1021.jpg?quality=5&strip=all&w=100&sig=mE0fkFKNX-NMuetGYojHxg&ssl=1\" height=\"779\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> BMO Capital Markets<\/span><\/figcaption><\/figure>\n<p>Canadians are looking downright thrifty compared to their neighbours down south in today\u2019s chart brought to us by BMO Capital Markets.<\/p>\n<p>While per-capita retail sales in the United States have steamed steadily upwards, they have been declining in Canada since early 2022, right about the time when the Bank of Canada began hiking interest rates, says Robert Kavcic, BMO senior economist.<\/p>\n<p>Kavcic says one of the reasons is that Canadians carry more household debt relative to disposable income than their neighbours. After the financial crisis, Americans spent the next decade deleveraging while we continued to borrow. In the United States, the household debt-to-disposable income has declined from about 170 per cent in 2008 to 127 per cent today. Canada\u2019s ratio has gone in the opposite direction, climbing from 135 per cent in 2008 to a record high 170 per cent in 2022. It\u2019s at 160 per cent today.<\/p>\n<p>The shorter terms of mortgages here also makes Canadians more sensitive to higher interest rates.<\/p>\n<p>\u201cCanadians are going to pay that mortgage first, leaving potentially fewer trips to the mall\/restaurant\/travel agent,\u201d he said.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_5\">\n<section aria-describedby=\"advertisment1472150718971248852019638932865024\" class=\"ad\">\n<p>Advertisement 5<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-5\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"5\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-5\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-1758643\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2019\/02\/subhead_breaking.png?ssl=1\" width=\"838\"\/><\/p>\n<ul>\n<li><strong>Earnings:<\/strong> TFI International Inc<\/li>\n<\/ul>\n<hr\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-3080180\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_marketsam.jpeg?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<figure class=\"embedded-image\" data-aqa=\"embed-image\"><picture class=\"embedded-image__ratio\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"embedded-image__image lazyload\" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=90&strip=all&w=288&sig=fgoXZQAXiVphF27EiCtjLg\" data-srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=90&strip=all&w=288&sig=fgoXZQAXiVphF27EiCtjLg,\n                https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=90&strip=all&w=576&sig=YD-aX7ptb6tmEpAKvrhxcQ 2x\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/chart-1021-ph.jpg?quality=5&strip=all&w=100&sig=EZIo2HJOO3Ox-bxZc6hs8Q&ssl=1\" alt=\"chart\" height=\"408\" loading=\"lazy\" width=\"1000\"\/><\/source><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"image-caption\"><span class=\"caption\"> Financial Post<\/span><\/figcaption><\/figure>\n<hr\/>\n<figure class=\"embedded-image\"\/>\n<p><strong><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-3080181\" alt=\"\" height=\"114\" fifu-data-src=\"https:\/\/i1.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2022\/07\/subhead_reads.jpeg?ssl=1\" width=\"838\"\/><\/strong><\/p>\n<section aria-labelledby=\"moreTopicLabel3927850165082177200006289518755840\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-prev\" data-carousel-prev=\"\" tabindex=\"-1\" title=\"previous\" type=\"button\"\/><\/p>\n<ol class=\"more-topic__items list-unstyled\" data-carousel-slide-list=\"\" tabindex=\"0\">\n<li data-evt-val=\"{\" control_fields=\"\" could=\"\" be=\"\" the=\"\" safe=\"\" haven=\"\" standing=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=96&strip=all&quality=80&sig=jYPLQ6FrMA02T6zmzFi0FQ, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=192&strip=all&quality=80&sig=ePkyOA-Cwf-4vKJwQ7gB9g 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/gold-1018-ph.jpg?h=288&strip=all&quality=80&sig=VfWE642Pz2TtMqCb2sdKdQ 3x\" alt=\"gold\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Gold could be the &#8216;last safe haven standing&#8217;<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" bigger=\"\" risk=\"\" to=\"\" canada=\"\" economy=\"\" than=\"\" the=\"\" mortgage=\"\" renewal=\"\" cliff=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=96&strip=all&quality=80&sig=z7fHjUsqcZNFRpHFXr_Dgg, https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=192&strip=all&quality=80&sig=oyDkkz2VcrpIjx_W3qpxuQ 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/nationalpost\/wp-content\/uploads\/2024\/10\/jobless-1017-ph.jpg?h=288&strip=all&quality=80&sig=l9JWIbZw85ToGIj41UvGeQ 3x\" alt=\"jobs\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">A bigger risk to Canada&#8217;s economy than the mortgage renewal cliff<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<hr\/>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"aligncenter size-full wp-image-2059284\" alt=\"\" height=\"86\" fifu-data-src=\"https:\/\/i0.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2020\/04\/subhead_personal_finance_2.png?ssl=1\" width=\"629\"\/><\/p>\n<p data-async=\"\">If the Bank of Canada opts for a bigger interest rate cut this Wednesday, keep your eyes glued to bond yields, writes mortgage strategist Robert McLister. Yields are like the GPS for fixed mortgage rates, and fixed rates are what most mortgage shoppers choose. Every borrower wants to know where the Bank of Canada will take rates next, and the bond market could give us those clues. Find out more<\/p>\n<hr\/>\n<h2>Hard earned truths<\/h2>\n<p data-async=\"\">In investing, you get what you don\u2019t pay for. In an ongoing series about what the next generation needs to know to build wealth, we offer hard earned truth #2: Your brain isn\u2019t wired to invest properly. Find out more.\u00a0<\/p>\n<hr\/>\n<h2>McLister on mortgages<\/h2>\n<p data-async=\"\">Want to learn more about mortgages? Mortgage strategist Robert McLister\u2019s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won\u2019t want to miss. Plus check his mortgage rate page for Canada\u2019s lowest national mortgage rates, updated daily.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_6\">\n<section aria-describedby=\"advertisment6914423664086660216061500458008576\" class=\"ad\">\n<p>Advertisement 6<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-6\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"6\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-6\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<hr\/>\n<h2>Financial Post on YouTube<\/h2>\n<p data-async=\"\">Visit the Financial Post\u2019s YouTube channel for interviews with Canada\u2019s leading experts in business, economics, housing, the energy sector and more.<\/p>\n<hr\/>\n<p data-async=\"\"><em>Today\u2019s Posthaste was written by Pamela Heaven, with additional reporting from Financial Post staff, The Canadian Press and Bloomberg.<\/em><\/p>\n<p data-async=\"\">Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at\u00a0posthaste@postmedia.com.<\/p>\n<hr\/>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add\u00a0financialpost.com\u00a0to your bookmarks and sign up for our newsletters here<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Oil prices could be cut in half if Saudis open the taps<\/a><br \/>\n<br \/>2024-10-21 12:01:31<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News $30 crude could challenge viability of oilsands projects Published Oct 21, 2024 \u00a0\u2022\u00a0 4 minute read You can save this article by registering for free here&#8230;.<\/p>\n","protected":false},"author":2,"featured_media":51842,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/10\/oil-prices-1021-ph.jpg?quality=90&strip=all&w=288&h=216&sig=-x2CMFmQ7DSMWt4ux1FNfw","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-51841","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51841"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51842"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}