Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Dec. 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Already faced with the Omicron strain of COVID-19 starting to take hold in Canada, the number of reported cases in the country has been spiking. As of Friday morning, approximately 500 cases of COVID-19 have been reported in Atlantic Canada with New Brunswick and Nova Scotia seeing record high outbreaks. In the West, British Columbia announced over 750 new cases, and Alberta said it has about 120. Kingston, Ont. is currently Canada’s COVID hotspot with 471.4 cases per 100,000 residents including more than 500 cases of Omicron.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Imperial Oil Ltd. announced on Friday that it plans to spend C$1.4 billion on capital spending in 2022. The oil producer’s plans are said to include ramping up production at its Kearl oilsands facility. The company projected Kearl will produce 425,000 to 440,000 gross oil equivalent barrels per day, with refinery throughput of 395,000 to 405,000 BPD. As well, Imperial said it plans to complete a southern Ontario pipeline and put it into service.
– Australia and the United Kingdom signed a free trade deal that is estimated to generate US$13.3 billion between the two countries. With Australia in the midst of a trade war with China, its biggest trading partner, Prime Minister Scott Morrison has sought to diversify the country’s trade. The agreement eliminates tariffs on 99 per cent of the good Australia exports to the U.K.
