CIBC World Markets Corp. Deputy Chief Economist Benjamin Tal suggests there’s another unfamiliar force Canadians ought to embrace: lower oil prices. For Alberta, the nation’s energy producing heartland, oil’s move Continue Reading
U.S. energy firms cut oil rigs for a fourth week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy Continue Reading
On 14 April, the transport ministers of all 28 EU member states signed the Amsterdam Declaration , laying down agreements on the steps necessary for the development of connected, autonomous Continue Reading
Oil is poised for a second weekly advance before major suppliers meet in Doha to discuss an output freeze as the International Energy Agency sees a global glut almost vanishing Continue Reading
Oil fell for a third day before major suppliers meet in Doha to discuss an output freeze, sending bonds higher and leaving European stocks little changed, with investors wary of Continue Reading
Oil prices were pulled down in early trading on Thursday as OPEC warned of slowing demand and major exporter Russia hinted that there would only be a loose agreement with Continue Reading
Natural gas retreated from a brief spike and ended the day by falling further as a record glut continues to weigh down prices even as it shows signs of shrinking. Continue Reading
Oil prices flopped late in Thursday’s trading session after being largely unchanged most of the day with opinions divided about recent U.S. inventory data and this weekend’s meeting between the Continue Reading
Nations representing almost 60 percent of the world’s oil production will gather in Doha on April 17 to discuss freezing their output at January levels in an effort to stabilize Continue Reading
Rigging equipment is pictured in a field outside of Sweetwater, Texas June 4, 2015. An oil output cut by global producers, following on from the output freeze initiative, is quite Continue Reading
Oil traders have ramped up their bets in the futures and options market that April’s rally will run out of steam, as the outlook for demand weakens and with few Continue Reading
The structure of Brent futures prices shows most market participants believe the oil market will begin to rebalance in the second half of 2016 and through 2017. Prominent oil analysts Continue Reading
An oil output cut by global producers, following on from the output freeze initiative, is quite unlikely and would be months away, OPEC sources said, suggesting any additional action to Continue Reading
OPEC and Russia might like to take all the credit for oil’s recovery with their plan to freeze production. Futures prices show that’s not the whole story. While much of Continue Reading
The headlines reacting to OPEC’s April Oil Market Report generally read “OPEC concerned about global oil demand” and as such, oil prices traded down slightly on April 13, despite an Continue Reading
Iraqi-focused energy company Gulf Keystone Petroleum said its operations may start to decline without a focus on capital spending. Photo courtesy of Gulf Keystone Petroleum LONDON, April 14 (UPI) — Continue Reading
Military strikes on oil lines controlled by terrorist groups in Iraq and Syria cutting into their financial life line, White House spokesman Josh Earnest says. Pictured, a pair of U.S. Continue Reading
Shipments jump by more than 600,000 barrels a day: tanker data Iran’s crude shipments have risen by more than 600,000 barrels a day this month, adding to the pressure facing Continue Reading
A view of a petrochemical complex in Assaluyeh on Iran’s Persian Gulf coast May 28, 2006. Iran’s oil production will rise only modestly this year and next, but it will Continue Reading
In late February, several hundred Saudi officials, company executives and foreign consultants gathered in a luxury Riyadh hotel to discuss how Saudi Arabia’s economy could survive an era of cheap Continue Reading
An employee works at a garment factory, which exports products to Europe, in Hefei, Anhui province January 19, 2015. China has agreed to scrap controversial export subsidies on a range Continue Reading
The Canadian unit of one of China’s largest oil and gas companies is on track to start operations at a new 35,000-barrel-per-day oil-sands plant later this year despite crude prices Continue Reading
So much for the hard landing scenario. Chinese leaders appear to have stabilized their $10 trillion-plus economy by relying on a tried and true playbook: unleash a torrent of credit Continue Reading
China’s economy slowed further in the beginning of the year, though Beijing’s policies to revive growth with old-style tools such as lending and construction appeared to gain traction in March. Continue Reading
China’s economy grew at an annual rate of 6.7 per cent in the first quarter of 2016, down slightly from the end of last year but comfortably within the government’s Continue Reading
Goodrich Petroleum Corp. filed for Chapter 11 in a U.S. bankruptcy court to implement a financial reorganization after struggling to restructure its debt amid declining energy prices. “Through the Chapter Continue Reading
In 1968, a pair of scientists from Stanford Research Institute wrote a report for the American Petroleum Institute, a trade association for America’s oil and natural gas industry. They warned Continue Reading
Environmentalists backing a Big Tobacco-style government probe of oil companies plotted their strategy for targeting companies like ExxonMobil at a closed-door meeting in Manhattan earlier this year, according to a Continue Reading
The world’s biggest oil explorers are fighting a U.S. plan to toughen offshore drilling rules that Exxon Mobil Corp. said will cost $25 billion over 10 years and render many Continue Reading
Canada exported 3.2 million barrels of crude per day to the United States last year, the Energy Information Agency reported , a 10 percent annual increase and an all-time record Continue Reading
It should come as no surprise that the oil price crash has hit Canada particularly hard. Much of the Canadian economy’s strength in the last few years was built around Continue Reading
Working natural gas inventories ended the winter heating season at 2,478 billion cubic feet (Bcf), exceeding the previous end-of-March record high of 2,473 Bcf, set in 2012, according to EIA’s Continue Reading
Wells Fargo shares have declined about 10% so far this year. Wells Fargo WFC -0.49 % & Co.’s first-quarter profit fell 5.9% as the nation’s third-largest bank by assets said Continue Reading
Iowa, which already gets more of its power from wind than any other U.S. state, will become more reliant on the electricity source under a $3.6 billion plan announced Thursday by a Continue Reading
The Houston-based energy firm, filed for protection under the Chapter 11 Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Houston Division, after signing a Continue Reading
The U.S. oil and gas industry was working as early as the 1940s to spin the narrative on the role fossil fuels influenced the climate, a report finds. A series Continue Reading
Bank of America Corp. posted a first-quarter profit that missed analysts’ estimates as trading and underwriting revenue dropped and energy loans soured. The stock fell in early trading. Net income Continue Reading
The Obama administration is imposing tough new regulations for offshore drilling nearly six years after the Deepwater Horizon disaster vividly illustrated the potential damage when things go wrong. Interior Secretary Continue Reading
Bank of America Corp, the No. 2 U.S. bank by assets, reported an 18 percent slide in quarterly profit on Thursday as its trading business was hit by concerns about Continue Reading
Wells Fargo & Co’s ( WFC.N ) quarterly profit fell 7 percent as the No.3 U.S. bank by assets set aside more than $1 billion to cover bad loans, saying Continue Reading
The Obama administration on Thursday unveiled new oil well control rules to prevent the kind of blowout that happened six years ago on a BP Plc rig in the Gulf Continue Reading
Following the company’s annual meeting Thursday, the oil giant said 59% of the votes cast were against the company’s executive compensation decisions for 2015. That included a roughly 20% increase Continue Reading
Oil prices fell on Thursday amid market skepticism about the outcome of a meeting between major producers slated for this weekend. Heavyweight suppliers, including Saudi Arabia and Russia, are gathering Continue Reading
Oil extended losses as rising crude stockpiles kept supplies at the highest level in more than eight decades before major producers meet in Doha to discuss freezing output. Futures lost Continue Reading
Pump jacks are seen at the Lukoil company owned Imilorskoye oil field, as the sun sets, outside the West Siberian city of Kogalym, Russia, in this January 25, 2016 file Continue Reading
Production outside the Organization of Petroleum Exporting Countries will decline by the most since 1992 as the U.S. shale oil boom falters. Surplus to dwindle to 200,000 barrels a day Continue Reading
OPEC on Wednesday predicted global demand for its crude oil will be less than previously thought in 2016 as consumption slows down, increasing the excess supply on the market this Continue Reading
Oil prices can climb above $50 a barrel if an output freeze deal is struck in Doha this weekend, according to Bank of America Corp. “A flat output profile for Continue Reading
A three-day rally for crude oil prices came to an end Wednesday after OPEC said in its monthly report for April that demand was expected to falter. The Organization of Continue Reading
A three-day rally for crude oil prices came to an end Wednesday after OPEC said in its monthly report for April that demand was expected to falter. The Organization of Continue Reading
