# Posthaste: Some oilsands mines breakeven at $10, S&P cuts Canadian GDP forecast and why the Fed is cutting rates - Financial Post

> A Financial Post briefing on July 31, 2019 reported that some Canadian oilsands mines break even at around $10 per barrel and that S&P Global cut its 2019 Canadian GDP growth forecast to 1.2 percent. The piece also covered the expected Fed rate cut and concerns about Canada's housing market.

- Date: 2019-07-31 · published 2019-07-31T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/58340-posthaste-some-oilsands-mines-breakeven-at-10-s-and-p-cuts-canadian-gdp
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Oilsands producers' low breakeven points suggest output will continue even at lower crude prices, which limits upward pressure on oil. Slower Canadian growth reduces domestic demand for livestock products and feed.

## Read by commodity

- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-07-29 | [ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate \| Financial Post](https://feedsoft.ai/events/18262-ing-says-dollar-to-take-cue-from-oil-prices-if-fed-holds-rate-financial-post.md) | -4.4% | +3.8% |
| WTI | 2025-07-27 | [Oil Caught Between a $70 Summer and Growing Surplus Fears \| Financial Post](https://feedsoft.ai/events/23926-oil-caught-between-a-70-summer-and-growing-surplus-fears-financial-post.md) | +3.1% | -3.1% |
| WTI | 2017-04-10 | [OPEC's original cut 'just missed paving the road to hell', but extension needed for oil to hit $60: Citi \| Financial Post](https://feedsoft.ai/events/71675-opec-s-original-cut-just-missed-paving-the-road-to-hell-but-extension-needed.md) | +0.7% | -11.1% |
| WTI | 2017-03-15 | [Will A Fed Rate Hike Boost The Price Of Oil? \| Investing.com](https://feedsoft.ai/events/71924-will-a-fed-rate-hike-boost-the-price-of-oil-investing-com.md) | -0.6% | +12.6% |
| WTI | 2022-11-28 | [Canadian dollar posts biggest decline in six weeks as China outlook weighs - The Globe and Mail](https://feedsoft.ai/events/38906-canadian-dollar-posts-biggest-decline-in-six-weeks-as-china-outlook-weighs-the.md) | +4.6% | +4.2% |

## Sources

- financialpost.com: https://financialpost.com/news/posthaste-sp-cuts-canadian-gdp-forecast-and-the-real-reason-why-the-fed-is-poised-to-cut-rates/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.