Canada Oil Patch to See Massive Consolidation, Belski Says

Canada will see increased energy mergers and acquisitions in the next 5 to 10 years as cheaper oil forces producers to cut costs, Bank of Montreal’s Brian Belski said.

“Remember the mid-90s, late-90s, massive consolidation for Canada’s big energy companies?” Belski, chief investment strategist at the bank, said during the Bloomberg Canada Economic Summit in Toronto on Thursday. “We think we’re going to see a replay of that.”