OTTAWA, Oct. 4, 2016 /CNW/ – Ongoing revenue woes, combined with a slower than anticipated cost cutting response, are leading to another poor year for Canada’s oil producers. Following record losses of $11 billion in 2015, Canada’s oil extraction industry is on track to post a second consecutive year of shortfalls—to the tune of $10 billion, according to The Conference Board of Canada’s latest outlook for the industry.

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