Oil industry projected to lose $3B in 2016 after $7B in losses last year

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http://i.cbc.ca/1.2881805.1419284133!/cpImage/httpImage/image.jpg_gen/derivatives/16x9_460/oil-s-wild-ride.jpg Canada's oil-extraction industry is expected to lose another $3 billion this year as crude prices remain low, with the WTI rate not returning to $65 US per barrel until 2020, according to the latest forecast from the Conference Board of Canada.


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