Oil price stall, global uncertainty prompt caution from energy companies
Analyst says drawdowns are constructive, but the market remains reliant on drastic production cuts from OPEC+ to restore balance.
Oil sands companies restoring production as demand spurs higher price
Executives are confident the oil price crisis is subsiding but are dismayed by recent setbacks for oil pipelines in the US.
Plunging oil prices point to ‘deep collapse’ in sector: drilling firm CEO
Kevin Neveu of Precision Drilling says spending on oil and gas exploration will fall even further from already-depressed levels because of pricing signals.
Oil price crash: what does it mean for Canada?
The turmoil is already affecting Canadian companies and consumers.
Oil price drops for 2nd day as Saudi crude output recovers
Attack on Saudi Aramco’s processing facility in Abqaiq pushed crude prices up more than 14% Monday.
Saudi Arabian attacks linked to higher oil prices, spark energy stock rally
A weekend attack on key oil facilities in Saudi Arabia caused the worst disruption to world supplies on record.
Alberta government announces further easing of oil production restrictions
Effective June 1, the province will allow 3.71 million barrels per day to be produced.
Oilpatch financial results to reflect extreme Q4 oil price volatility
Analysts also expect investor interest in prospects for crude-by-rail shipments.
CN and CP well poised for 2019 trade headwinds: analysts
Crude-by-rail exports have spiked over the past year amidst a pipeline shortage and a big discount on Western Canadian Select oil.
Oil prices remain strong as Alberta production cutbacks kick in
Provincial curtailments of 325,000 barrels per day aim to relieve a glut and free up export pipeline space.
Groups preparing new Trans Mountain legal challenge, argue government’s mind made up
Trudeau has said many times the pipeline is going to be built.
Ottawa to announce $1.6B boost Tuesday for battered energy sector
It is a package based, in some ways, on those offered to softwood, steel and aluminum producers.
Canadian Natural cuts $1B from budget due to low oil price
Oil sands producer will ramp up capital spending if prices improve and stabilize, and there’s clarity on market access.
Alberta buying its own rail cars to move oil without feds: Notley
The province has already started talks with a third party to buy enough rail cars and locomotives to put two more oil trains a day on the tracks.
Energy giant BP says 3Q earnings more than double
The bump was attributed to higher oil prices and streamlined operations.