But it also sent the global benchmark for oil tumbling from $115 a barrel in 2014 to less than $55 in October. And even then, it could take a decade before crude from those investments would arrive on the market, he said. Prices topped $66 this week.For now, producers have set their sights on smaller, less-risky reserves. Shale is different. In Canada, Imperial Oil Ltd. is investing $550 million to expand the capacity of its Kearl oil-sands mine by 9 percent.

Source: The Star December 27, 2017 05:48 UTC