In terms of oil, prices have recovered from last autumn’s decline, production has started to increase, and profitability has started to improve. At the same time, we know that curtailments and transportation constraints continue to weigh on production. These should ease over time as rail capacity expands later this year and as Line 3 is completed.
Our experiences in the past two decades prove that challenges or difficulties provide compelling reasons to change the status quo. Viewed in this context therefore, challenges and achievements are indeed two sides of the same coin. Indeed, the country’s low and stable inflation, strong banking system and robust external position have not gone unnoticed by credit rating agencies and other third party analysts.