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May 3, 2023 · One Canadian energy strategist said he thinks weak demand is behind the plummeting price of oil. As crude dropped below $US70 per barrel on Wednesday, Michael Tran, managing director of Global Energy Strategy at RBC Capital Markets, told BNN Bloomberg he doesn’t see the trend being driven by recession fears, but rather weaker demand as people ...
Oil Price Charts. Oilprice.com, in cooperation with its partners, offers over 150 crude oil blends and indexes from all around the world, providing users with oil price charts, comparison...
- A Fight Over Market Share
- Both Sides Gird For A Long Fight
- Canadian Operators Feel The Strain
Saudi Arabia, the de facto leader of OPEC, and Russia became locked in a war for global oil market share after their three-year deal to restrain output collapsed in early March. With global oil demand falling because of the coronavirus pandemic, OPEC wanted to deepen supply cuts but Moscow said it would agree only to an extension to the existing pa...
On Friday, the price of West Texas Intermediate (WTI), the North American benchmark, closed at $22.53 US a barrel — capping a remarkable 29-per-cent drop for the week. Brent crude, the global yardstick, fell 20 per cent in the week to close at $26.98 US a barrel. Such low prices will put a strain on Russia and Saudi Arabia. According to Bloomberg N...
Few observers appear to expect a quick resolution to the price war. Rather than wait things out, U.S. officials said Fridaythe Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market. Kamel thinks it's going to take more economic pain and revenue loss to get Russia or S...
Apr 4, 2023 · Canadian oil and gas companies reaped record profits in 2022 as the war in Ukraine and global fears about energy security drove commodity prices sky-high in the spring of last year.
Jun 8, 2022 · Oil prices around the world have risen to their highest levels in years, but Canadian oilsands producers are seeing comparatively less for every barrel because of imbalances in supply and...
Mar 13, 2022 · With gas prices hitting record highs, energy experts say an immediate infusion of oil and gas into the market will be needed to temper prices — and Canada could play a role by ramping up...
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Feb 4, 2022 · The March crude oil contract for West Texas Intermediate closed at $90.27 US per barrel, up $2.01 per barrel, bolstered by geopolitical tensions and supply concerns. Economist Rory Johnston said...
