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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...
- Price gap on heavy Canadian oil tops $30 per barrel, widest ...
A barrel of the North American oil benchmark is changing...
- Price gap on heavy Canadian oil tops $30 per barrel, widest ...
- OPEC Production Cuts
- Demand Trends Strong
- U.S. Rig Counts Falling
- Looking Ahead For Oil
Perhaps the single biggest driver of rising oil prices has been supply cuts by Russia and the Organization of Petroleum Exporting Countries (OPEC). On September 5, Saudi Arabia announced it will be extending its 1 million barrel per day production cuts through at least the end of the year. Russia has announced it will be cutting production by 300,0...
Historically, U.S. oil demand and economic growth are highly correlated, and the U.S. economy has performed much better than most economists had anticipated so far in 2023. Crude oil prices pulled back from their recent highs after the Federal Open Market Committee (FOMC) took a hawkish tone at its September meeting, emphasizing investors should be...
In the past, U.S. oil companies reacted to rising oil prices and tight supplies by aggressively investing in ramping up oil production. This time, they seem to be taking a much more cautious approach. The number of operating U.S. oil rigs dropped by eight to 507 rigs for the week ending September 22, its lowest level since February 2022. Total U.S....
Looking ahead, U.S. oil refiners expect to have about 1.7 million bpd of refining capacity offline for the week ending September 29, and that offline capacity is expected to expand to 1.9 million bpd for the week ending October 6, according to research company IIR Energy. Given falling rig counts and offline refiners, U.S. drivers may not get much ...
- Wayne Duggan
Oct 14, 2022 · A barrel of the North American oil benchmark is changing hands for about $90 US a barrel right now, but the heavy crude that comes from Canada's oilsands is fetching $30 less because of a perfect...
Nov 14, 2017 · That’s why the Western Canadian Select (WCS) —representative of the price of oil from Canada’s oil sands delivered at Hardisty, Alberta—trades at a $10 or more discount to the WTI. But...
Jun 3, 2022 · The price of Brent crude, the global benchmark, shot up past US$124 a barrel earlier this week — its highest level since early March — after the European Union announced it would slash 90% of...
Oct 5, 2022 · While the price of crude oil slumped in September, with the international benchmark Brent sagging as low as US$84 in recent days after spending most of the summer months over $100 per...
People also ask
Why did the Brent Crude Price go up 124 a barrel?
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Why are oil prices so low in Canada?
Apr 9, 2024 · Analysts say the momentum could carry prices higher. The price of a barrel of Brent crude oil, the international benchmark, has risen more than 20 percent since mid-December.
