Volatile Year For Oil Prices Predicted

Posted on Thursday, December 31, 2015 12:24 PM

Canada's economy took a beating in 2015 as the oil industry began a downward spiral which brought the loonie down with it.

Analysts say 2016 promises to be a better year for a country which is heavily dependent on oil.

Senior petroleum analyst Dan McTeague, with Gasbuddy.com, believes oil has not quite reached the bottom yet. He thinks 2016 will be a very volatile mixed year with more damage in the oil industry, at least until the middle of the year.  

McTeague says while the latter half of the year looks better for the economy, it 'll also mean higher gas prices too.