Oil Prices ///

Canadian energy sector losing patience with the country’s lack of support

The plunge in global crude prices is being exacerbated in Canada by a lack of pipeline capacity, sending the country’s oil prices to a near record discount to the U.S. and energy stocks reeling.

Oil rises, paring sixth weekly loss on expectation of OPEC cuts

Oil rose, paring a sixth weekly loss, amid growing confidence that OPEC and its partners will reduce production to avert a glut next year.

Heavy Canadian crude falls to record low

Heavy Western Canadian Select crude fell to a record low as several oil producers shut in production and some demand the Alberta government intervene to mandate across-the-board cuts.

DNV GL: Continuing demand growth for Middle East and North Africa oil and gas

The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century

Putin says $70 crude suits Russia fine

President Vladimir Putin said he discussed the price of oil with U.S. counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices.

Citi says oil's record plunge is a U.S. phenomenon

American fingerprints are all over oil’s record losing streak that’s plunged prices into a bear market.

Oil and gas diverge as inventories move in different directions

Crude oil and natural gas prices are moving in opposite directions, with traders in both markets spooked by inventories.

OPEC will cut output as required to stabilize market

OPEC will cut or adjust production as needed to balance the market, the group’s president, UAE Energy Minister Suhail Al Mazrouei, said Wednesday.

Crude crash will test majors’ devotion to spending discipline

For more than a year, the world’s biggest oil companies have been saying that by keeping a tight rein on spending today, they’ll be fortified against the next crude-price collapse. What they didn’t expect was for that caution to pay off so soon.

Saudis see need for major supply cut amid fears of glut

Saudi Arabia said OPEC and its allies should reverse about half the increase in oil output they made earlier this year as fears of shortages are supplanted by concerns about oversupply and collapsing prices.

Trump criticizes Saudi Arabia for plan to reduce oil production

President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally.

Canada's oil patch feels double pain with cuts, price collapse

Canada’s oil producers can’t catch a break. Even as local production cuts help alleviate pipeline bottlenecks, heavy crude plunged below $18/bbl for the first time since 2016 -- dragged down by global oil prices.

Saudi think tank studying hypothetical world without OPEC

A Saudi think tank is studying what happens to oil markets in a world without OPEC.

Tech, oil bear market drop U.S. stocks; bonds rise; markets wrap

U.S. stocks fell amid a fresh batch of weak earnings from the technology sector and concern that a bear market in oil prices may mean trouble for the economy.

Longest oil slump in four years signals growing worldwide surplus

Oil notched its longest losing streak in four years as expanding U.S. stockpiles overshadowed supply concerns from the Persian Gulf to Latin America.

Exxon's $2-billion Canada move shows confidence when others flee

Two years after Exxon Mobil removed billions of bbl of oil-sands crude from its reserves, its Imperial Oil unit is investing again, saying low Canadian crude prices make it a perfect time to build.

Crude could touch $100/bbl if supply crunch worsens

Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup.

Saudis raise some Asia crude pricing as U.S. sanctions Iran oil

Saudi Arabia raised pricing for the crudes it sells to Asia, a sign that OPEC’s biggest producer sees robust demand as it boosts output to offset the impact of sanctions on Iran.

Oil slides to six-month low as supply fears subside

Oil fell to a six-month low as the U.S. softened its crackdown on Iranian exports and American supplies surged, assuaging fears of an impending shortage.

Canadian oil producers look past grim days to brighter future

Canadian oil producers are suffering from the worst domestic glut in a decade.