- Canada’s oil production could fall by 76% by 2050 if the world takes sufficient action to limit global warming to 1.5C.
- Output from the nation’s oil industry would face a less severe decline of 22% by 2050 if Canada achieves net zero by that date.
- Lower global oil demand and prices would cause the decline in oil production.
- Oil and gas account for as much as 7% of Canada’s economy and about a fifth of its goods exports.
- Majority of Canada’s crude production comes from the western province of Alberta.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec