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- 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 10, 2020 · The oil price war of January 2020 began 10 years ago. To understand what happened, you have to look back to 2009. As most of you know, 2010 saw oil prices punch through $100 per barrel.
The base-price case is a reference point based on assumptions, including a slowdown in global demand due to restrictive monetary policy, the Israel-Hamas conflict as well as the ongoing war in Ukraine, and global supply increase mainly driven by the U.S. shale output.
Dec 26, 2020 · An international oil price war combined with a pandemic made 2020 a very difficult year for Canada's oil and gas sector. But the year ahead will offer little respite, with the pace of...
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. But...
People also ask
What happened to Canada's Oil & Gas sector?
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Will Canada's oil prices return to US$100 a barrel?
Jun 8, 2022 · Analysis. Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's...
