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David McColl

David McColl is a senior analyst, covering Canadian midstream providers and Canadian oil and natural gas companies.

Prior to joining Morningstar in 2012, McColl was a research analyst for Bank of America Merrill Lynch (BAML), where he analyzed Canadian integrated, international, and senior exploration and production stocks on the company’s oil and gas team. Before BAML, he was a director and consultant for DCM Energy Associates Ltd., in addition to working as a research director and economist for the Canadian Energy Research Institute (CERI), one of Canada’s premier energy research organizations. As a member of CERI's research team, McColl led its oil sands research while providing expertise on conventional oil, alternative energy, and natural gas. McColl has been a guest lecturer in the field of energy economics at the University of Calgary.

McColl holds a bachelor's degree in economics, with honors, from the University of Waterloo and a master's degree in economics from the University of Alberta.


With concerns over pipeline capacity subsiding, Canadian heavy oil producers such as MEG Energy are poised to benefit from the significant narrowing in differentials.