Oil executives expect sustained period of strong crude prices [Video]

Nine out of 10 Canadian energy sector executives believe oil prices will remain strong for the next three to five years, according to the results of a recent survey.

Conducted between April 5 and April 18 by ATB Capital Markets, the survey polled 80 executives representing oil and gas exploration and production companies, energy services companies and institutional investors.

Ninety-one per cent of the executives polled said they anticipate the West Texas Intermediate benchmark crude price to average above US$75.99 per barrel for a period of three to five years.

Eighty-eight per cent of oil and gas exploration and production executives surveyed said they expect their own company’s prospects to improve over the next six months, while 58 per cent of energy service executives predict their company will see increased activity levels over the next six months.

Sixty-seven per cent of institutional investors polled predict the energy sector will outperform …