Measuring the Effect of COVID on Alberta Oil Prices

Abstract

The Oil industry in Alberta has become one of the largest contributors to Canadian oil and equivalent production for decades. Oil sands extraction and refineries alone produced a vast amount of employment opportunities which contributed to Alberta’s economic growth. Therefore, studying one of the economic powerhouses of Alberta will examine its role in Alberta’s future prosperity. This time series analysis will seek to understand the underlying causes of trends or systemic patterns in Alberta’s oil over time and find out the best possible model that can be used to forecast the price fluctuations. Intervention analyses are also done to estimate the effects of Covid-19 in 2020 and the increase in supply of alternatives for Alberta oil in 2014.

Faculty Mentor: Dr. Cristina Anton