Dodgy Demand Data? The Oil Price Collapse Conspiracy

Dodgy Demand Data?  The Oil Price Collapse Conspiracy

WTI crude oil prices fell to their lowest point since early February on Thursday, giving up virtually all gains since Russia invaded Ukraine. WTI crude for September delivery tumbled -1.5% to close at $89.26/bbl while Brent crude for October delivery fell -2.1% to $94.71/bbl. WTI crude has lost ~9.5% over the course of the week, … Read more

As oil prices fall, what happens to Alberta’s gas tax relief plan?

As oil prices fall, what happens to Alberta’s gas tax relief plan?

As Alberta drivers get set to head out for another summer weekend, prices at the gas pumps are trending down. On Friday afternoon, most stations in Edmonton had pump prices around 157.9 cents per litre, with at least one station charging as low as 136.9 cents per litre. Read more: Gas tax savings to start … Read more

As oil prices fall, what happens to Alberta’s gas tax relief plan?

As oil prices fall, what happens to Alberta’s gas tax relief plan?

As Alberta drivers get set to head out for another summer weekend, prices at the gas pumps are trending down. On Friday afternoon, most stations in Edmonton had pump prices around 157.9 cents per litre, with at least one station charging as low as 136.9 cents per litre. Read more: Gas tax savings to start … Read more

Recession Fears Take Hold Of Oil Markets

Recession Fears Take Hold Of Oil Markets

Oil prices are back around the levels they were at before Russia invaded Ukraine, highlighting that a global recession and demand destruction are now the central focus of traders. Oilprice Alert: This month’s Intelligent Investor column, now available for Global Energy Alert members, compares two of the most promising Canadian oil stocks on the market. … Read more

Why Traders Have Started To Dump Crude

Why Traders Have Started To Dump Crude

US West Texas Intermediate crude oil futures are trading lower on Friday shortly after the release of a strong US Non-Farm Payrolls report that suggests the US is not in a recession and that the Fed is likely to continue on its aggressive rate hiking path. Prices have come under pressure this week as the … Read more

Why Oil And Gas Executives Are Reluctant To Pull The Trigger On New Deals

Why Oil And Gas Executives Are Reluctant To Pull The Trigger On New Deals

The last two energy crises that threatened hundreds of energy companies with bankruptcy have rewritten the O&G M&A playbook. Previously, oil and gas companies made numerous aggressive tactical or cyclical acquisitions in the wake of a price crash after many distressed assets became available on the cheap. However, the 2020 oil price crash that sent … Read more

OPEC’s Lackluster Quota Hike Won’t Solve Oil Market Tightness

OPEC’s Lackluster Quota Hike Won’t Solve Oil Market Tightness

Yesterday, OPEC and its partners led by Russia agreed to increase their combined oil production by 100,000 bpd in September. Reports note that the decision follows calls from the US and other big consumers for more oil. However, 100,000 additional barrels daily will probably not be enough to lower prices much further. The production increase … Read more

Saudi Arabia And The UAE Won’t Be Tapping Emergency Oil Capacity

Saudi Arabia And The UAE Won’t Be Tapping Emergency Oil Capacity

By Julianne Geiger – Aug 04, 2022, 10:00 AM CDT Sources: Saudi Arabia and the United Arab Emirates are ready to deliver a “significant increase” in crude oil production if the market should run up against a severe supply crisis this winter. Combined, OPEC members have between 2 million bpd and 2.7 million bpd in … Read more

Oil Could Fall to $90 If Inflation Persists

Oil Could Fall to  If Inflation Persists

Crude oil prices could fall to $90 per barrel if the economies of the world’s two biggest consumers continue struggling with growth, Bharat Petroleum’s told the Economic Times. “Prices can touch $90 in two months if the US continues with inflation and low growth and China is unable to find fixes for its economic troubles. … Read more