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Murray Mullen, president and CEO of Mullen Group, joins BNN Bloomberg’s Special Coverage of the Alberta Budget. Mullen shares his thoughts on Alberta’s current economic state and the Keystone XL Pipeline. Mullen says of the Alberta oil sector: "I don’t think the oil industry will be as big a job creator as in the past. It will be incumbent on Alberta to lead the diversification of the economy." Oil’s record start to 2021 was under pressure from a firming dollar and a selloff in bond markets that spooked investors in risky assets. Brent in London fell at the end of a week that saw the steepest decline in the Nasdaq 100 since the pandemic meltdown. Yet the global benchmark crude has had its best ever start to a year as supplies tighten and pockets of demand return. Next week, the Organization of Petroleum Exporting Countries and its allies meet to decide on output levels, with market gauges indicating strength. The demand outlook has improved, with traders and investment banks this week making a series of bullish calls and upward price revisions. The recent big freeze that halted millions of barrels of U.S. output has exacerbated the tightening, and supply […]
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