Oil Prices and Canadian Energy Research Institute

Canadian Energy Research Institute: The loonie closed at 79.78 US cents, down about a quarter of a cent from yesterday. , according to Canadian Broadcasting Corporation. The Canadian Energy Research Institute reported Thursday that Canadian oil output would grow by 3.5 per cent this year, despite lower oil prices. The Canadian dollar is again back below 80 cents Friday, with a report showing Canada contribution to the worldwide oil glut. It moved lower on data about slowing retail sales in December and a worsening picture in the oil sector. (news.financializer.com). As reported in the news.