Both WTI and Brent, the worldwide benchmark oil value, tumbled to new multi-year lows on Monday, taking after a month-long descending pattern subsequent to the last Organization of Petroleum Exporting Countries (OPEC) meeting on Dec. 4.

Both oil price benchmarks fell through the span of the day, with WTI closing at US$34.74 per barrel. Brent for February settlement dropped US53 pennies to US$36.35 a barrel on the ICE Futures Europe trade. It's the most minimal close since July 5, 2004.

Mohr said the oil market is still over-supplied, particularly given OPEC's choice to pump oil without a production share and an expected 500,000 barrels of new production anticipated that would go ahead on stream from Iran.

ATB Financial chief economist Todd Hirsch stated that fact that Iran is making more is well known, "so in some ways, some of that is priced into that US$34 per barrel. The question is we don't know how much Iran is going to be able to push onto the market."

Hirsch said the next year will be another tough one for Canadian energy companies, who will need to make further adjustments to their labour costs to remain competitive. "That means layoffs," he said.

At current oil costs, Mohr said, most U.S. shale oil plays are not economic, and she expects U.S. oil producing organizations to bring down their production therefore. Oil costs have dropped strongly through the span of 2015, however Mohr said that the vast majority of the things she takes after have fallen throughout the year.

For 2016, Mohr's picks for value bounce back are zinc, lithium and board for private construction. Panel board, likewise called oriented strand board (OSB), was the top-performing modern commodity in 2015, Mohr said, and is set to have another solid year in 2016 as a consequence of a bounce back in home development begins in the United States.

Information from the U.S. Census Bureau discharged a week ago demonstrated construction began on 1.2 million exclusive houses in the States in November, which is up 16.5 for each penny from the around 1 million construction begins in the meantime a year ago. OSB is created at sawmills in British Columbia, Alberta and Saskatchewan and a bounce back in the items cost ought to give a support toward the Western Canadian economy, Mohr said.