- Crude oil prices will rise through next year and turn more volatile for the following 2-5 years amid under-investment in production and uncertain growth in demand, Suncor Energy (NYSE:SU) CEO Officer Steve Williams says.
- The collapse of oil prices has forced Canadian and global producers to cut costs and curtail investment over the past two years, although Williams says SU can operate “successfully” with oil prices at $35-$40/bbl.
- Canada has a reputation of not being able to get things done but is slowly making steps to improve, the CEO says, adding that the country is close to getting an oil pipeline built, either Kinder Morgan’s Trans Mountain or TransCanada’s Energy East.