The measures many countries have been taking to limit the spread of the coronavirus are decimating the demand for oil. In addition, the Russia-Saudi oil price war is fueling the supply/demand imbalance, which pushes commodity prices even lower.
As a result, oil prices plunged over the last several weeks and there's no sign of quick recovery. Brent prices are staying below US$30/bbl and WTI prices are getting close to US$20/bbl. The situation is even worse for the Canadian heavy oil index WCS below US$10/bbl.
Investing in the North American oil industry has become much riskier