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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...
- Other ‘Oil Currencies’ Are Also Slumping
- Canada Is Part of The Reason Why Oil Prices Are Spiking
- And Then There’S The Trade War
Canada is not alone, said Greg Anderson, global head of foreign exchange strategy at BMO. The currencies of other big oil exporters, like Russia and Norway, aren’t getting a big boost from the recent oil price gains, either. In part, this is because markets seem to think the current trajectory of oil prices increase the chances of more interest rat...
To make things worse, even Canadian producers aren’t benefiting from the current oil price spike as much as they could, as Alberta’s giant Syncrude Canada’s oilsands facility struggles with production problems. In fact, analystshave pointed to Canada’s crude supply woes as part of the reason for the price increase. READ MORE: Alberta premier says T...
Worries about President Trump’s increasingly harsh stance on trade are also helping to prop up the U.S. dollar and harm other currencies, including Canada’s. “Steel and aluminum tariffs proved to investors that the Trump administration wasn’t going to let Canada off the hook for perceived unfair trade practices,” reads a recent CIBC report. “The re...
Jun 4, 2024 · Oil prices continued their slide on Tuesday on skepticism about an OPEC+ decision to boost supply later this year into a global market where demand has already shown signs of weakness.
Dec 12, 2023 · Analysts say there are a number of factors at play here, namely geopolitical instability, fears of a global recession and hesitation around whether there will be follow through on oil output...
Jul 14, 2022 · Greater downside risk to prices is in 2023. The greater potential for an oil price undershoot is not so much over the next few months, but in 2023. For example, the EIA’s price forecast of nearly $100 next year imbeds the assumption that global growth would run at a healthy 3.4% next year.
Oct 21, 2021 · Rising oil prices won’t solve Canada’s oil and gas problems. Oil and natural gas prices have risen considerably over the past nine months. The price of Western Canadian Select crude oil (WCS, the benchmark price for Alberta oil) averaged US$45.13 per barrel in January 2021.
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Oct 5, 2022 · The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and...
