Canadian oilpatch cutbacks to continue despite OPEC deal
Doesn’t match the reduction in demand caused by measures taken to deal with the COVID-19 pandemic.
Deal to cut global oil production finalized, welcomed in Canada
Agreement between OPEC, Russia and other countries follows a glut that sent prices plunging.
OPEC looks to cut production as virus outbreak hits demand
Stalled air travel and manufacturing all but stopped in China, sapping demand for fuel following plunging crude prices.
OPEC, allies weigh further oil production cut in December
Global oil prices fell on the news as forecasts predict a coming economic slowdown and a renewed supply glut.
Global demand for oil has slowed, says latest OPEC estimate
Economic growth reduced to 3% for 2019 and 3.1% for 2020, down 0.1% in each year.
Abu Dhabi summit: Oil production cuts may be necessary
Trump’s sanctions on Iran are affecting the market.