1 hour ago Varcoe: A $12.6B deal and falling oil prices rumble through Canadian oilpatch

'Premier Smith and Prime Minister Carney have their work cut out for themselves, because they will not get any oil price uplift here,' said Al Salazar, vice-president of intelligence at energy analytics firm Enverus

Economics

5 h. ago Russia Mulls Tightening Budget Rule Over Slumping Oil Prices

Russia is considering changing its key budget-building mechanism in response to sliding oil revenue, in a sign the Kremlin expects crude prices will remain lower for longer while the war in Ukraine continues to drain state coffers.

Economics

9 h. ago Asian shares are mostly higher after Wall St breaks its winning streak

Shares were mostly higher early Tuesday in Asia after benchmarks fell on Wall Street, snapping a nine-day winning streak. Oil prices bounced back slightly from a 4-year low and U.S. stock futures slipped. A monthly survey measuring future activity in China’s services sector fell to its lowest level ever, excluding the pandemic, in a further […]

Other

13 h. ago Alberta’s energy industry, government watch nervously as oil prices hit 4

With oil prices plunging to their lowest level in four years, both the energy industry and governments that depend on energy royalties are watching nervously.

Politics

14 h. ago Shale Driller Diamondback Trims Output, Says US Oil Has Peaked

Diamondback Energy Inc., the largest independent oil producer in the Permian Basin, is trimming its crude production guidance amid sinking oil prices brought on by President Donald Trump’s trade war and looming OPEC supply increases.

Other

15 h. ago S&P/TSX composite down as oil falls, U.S. markets also end lower

TORONTO — Canada’s main stock index closed down along with U.S. markets as trade worries and a drop in the oil price weighed. U.S. stocks were down after a nine-day streak of gains while crude prices fell to a four-year low Monday after the OPEC+ group of oil-producing nations said it plans to increase output. […]

Other

17 h. ago Dropping Oil Price Boosts Odds of Ukraine Peace Deal, Trump Says

President Donald Trump said the sliding price of oil is intensifying pressure on Russia and boosting the odds for a deal to end its war in Ukraine.

Economics

24 h. ago Oil prices dip, global shares mixed amid thin holiday trading

During the weekend, the OPEC+ group of eight nations announced it will raise its output of oil by 411,000 barrels per day as of June 1, stepping up production increases.

Society

33 h. ago Oil prices drop $2 with most Asian markets closed for holidays

HONG KONG (AP) — Oil prices fell more than $2 a barrel early Monday after the OPEC+ group of oil producing nations said it plans to increase output. U.S. futures fell U.S. benchmark crude oil sank $2.21 or 3.8% to $56.08 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the […]

Economics

39 h. ago Five Key Charts to Watch in Global Commodity Markets This Week

Oil prices are at 2021 levels. Copper is rushing to the US, leaving Asian and London inventories at historically low levels. And, boy is it hot and dry around the world — which is good for US farmers but not so much for those in Europe.

Culture

4 d. ago Shell Sticks With Payouts, Spending Plans Despite Oil’s Drop

Shell Plc stuck to its plans for investor returns and capital spending, taking on extra debt to fill the gap in its cash flow stemming from the drop in oil prices.

Other

4 d. ago Asian shares rise as China says it’s considering US overtures on Trump’s tariffs

HONG KONG (AP) — Asian markets advanced Friday after China’s Commerce Ministry said Beijing is evaluating overtures from the U.S. regarding President Donald Trump’s tariffs. Futures and oil prices advanced. Hong Kong’s Hang Seng surged 1.7% to 22,493.96, while markets in Shanghai were closed for a public holiday. Taiwan’s benchmark jumped 2.2%. An unnamed Chinese […]

Economics

5 d. ago Russia Triples 2025 Deficit Target With Less Energy Income Seen

The Russian Finance Ministry more than tripled its budget deficit target for this year after expectations for revenue and the price of oil were reduced amid US President Donald Trump’s tariffs.

Other

5 d. ago Tariffs, oil prices and other uncertainties weighing down Mideast economies, IMF says

DUBAI, United Arab Emirates (AP) — Countries across the Middle East and North Africa face significant challenges to economic growth as the region faces economic uncertainty due to tariff measures, lower-than-recent oil prices and cuts to financial aid, the International Monetary Fund said Wednesday. The IMF’s regional outlook report for the MENA region said Brent […]

Economics

5 d. ago IMF Cuts Growth Outlook for Gulf Oil Producers After Price Slump

The International Monetary Fund downgraded its growth forecasts for oil exporting countries in the Middle East and North Africa, including Saudi Arabia and Iraq, citing escalating global trade tensions and lower energy prices.

Economics

7 d. ago Cnooc Profit Drops as Lower Oil Prices Outweigh Increased Output

Cnooc Ltd., China’s biggest offshore driller of crude oil, saw profits fall in the first quarter after a drop in global prices.

Economics

7 d. ago Rystad Cuts US Shale Oil Growth View on Tariffs, Lower Prices

Oil industry consultant Rystad Energy has slashed its estimate for US onshore crude growth by more than half for this year, amid lower commodity prices and higher costs brought on by President Donald Trump’s global trade war.

Economics

8 d. ago Drillers in Canada Shift to Gas as Trade War Hammers Oil Prices

Drillers in Canada’s energy heartland of Alberta are shifting their focus to natural gas as the global trade war and an OPEC+ plan to increase output hammer crude prices.

Economics

1 week ago OPEC+ Tensions With Kazakhstan Boil Over Sending Oil Price Lower

OPEC+’s audacious bid to punish its oil-quota cheats prompted a renewed plunge in crude on Wednesday, as growing tensions with Kazakhstan stoked fears of an escalating price war.

Economics

1 week ago Oil Prices May Fall Further on China Slowdown, IEA Chief Says

Oil prices may decline further this year as new production swells and demand remains capped by China’s faltering growth, the head of the International Energy Agency said.

Economics