Of course, BMO being a corporate underwriting/investment sales franchise, was not forecasting a drop in crude before it happened, and they are still calling for a rebound, but…the comments here are starting to acknowledge the gravity of a sustained oil drop for Canada. For more see: Global oil supply grows at ‘breakneck speed’, says IEA.
The price of crude slid further on concerns of slowing Chinese growth, and Benjamin Reitzes, Senior Economist, Vice-President at BMO Capital Markets says further downside risk to oil could put Canadian growth in jeopardy into the second half of the year. Here is a direct video link.
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