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HomeOil Prices

Oil Prices

News

Summer US real diesel, gasoline prices expected to be highest since 2014

April 19, 2022 Energi Staff

This article was published by the US Energy Information Administration on April 19, 2022. By Ornella Kaze In our Summer Fuels Outlook, a supplement to our April 2022 Short-Term Energy Outlook, we expect retail gasoline prices to [Read more]

News

No OPEC deal will boost global inventory, lower prices

March 16, 2020 Energi Staff

By Hannah Bruel This article was published by the US Energy Information Administration on Mar. 16, 2020. Markets for oil, as well as other commodities and equities, have experienced significant volatility and price declines since [Read more]

News

Aramco attack boosts avg. US gas prices by over 10 cents/gallon

September 25, 2019 Energi Staff

By Owen Comstock This article was published by the US Energy Information Administration on Sept. 25, 2019. As of Monday, September 23, 2019, the US average retail gasoline price increased by more than 10 cents [Read more]

News

Saudi Aramco attack affects oil, gasoline prices

September 24, 2019 Energi Staff

By Mason Hamilton, Jeff Barron, Jesse Barnett This article was published by the US Energy Information Administration on Sept. 23, 2019. On Saturday, September 14, 2019, an attack damaged the Saudi Aramco Abqaiq oil processing [Read more]

permian oil prices
News

Permian oil prices up on increased pipeline capacity

March 27, 2019 Energi Staff

An extension to the Sunrise Pipeline adding 120,000 b/d of capacity and the repurposing of the Seminole Red Pipeline from natural gas to oil has helped boost Permian oil prices in recent months. Apache photo. [Read more]

Opinion

Opinion: Hedge funds carry on buying oil despite Trump intervention

March 4, 2019 Energi Staff

Hedge funds continued to boost their bullish position in crude and fuels last week despite a call from U.S. President Donald Trump for OPEC to “relax and take it easy”.  Anadarko photo by Mike Goldwater. [Read more]

Opinion

Opinion: NOPEC bills provide useful leverage for the White House

March 1, 2019 Energi Staff

NOPEC bills were introduced into the House of Representatives (HR 948) and the Senate (S 370) early last month, where they were referred to the respective judiciary committees for detailed consideration.  Bloomberg photo. NOPEC bills [Read more]

News

Global liquid fuels production to outpace demand: EIA

February 28, 2019 Energi Staff

The US Energy Information Administration forecasts that despite recent supply reductions, global liquid fuels production to outpace demand.  Repsol photo. Saudi Arabia, Libya, Venezuela and Canada cut pack on liquid fuels production By Matthew French [Read more]

Financial

Oil prices steady as OPEC plans to continue cuts

February 26, 2019 Energi Staff

After a tumultuous trading day on Monday, oil prices steadied on Tuesday after OPEC sources said the cartel is likely to carry on with its supply cut agreement despite a tweet from US President Donald [Read more]

Opinion

Opinion: Saudi Arabia resumes familiar role as swing producer

February 20, 2019 Energi Staff

Saudi Arabai has demonstrated, once again, that it can always tighten the physical market, boost prices and push the calendar spread into backwardation – if it is prepared to cut its own production enough.  Reuters [Read more]

News

US retail gasoline prices end year lower than they started

January 4, 2019 Energi Staff

Average US gasoline prices declined for 12 weeks in a row at the end of 2018, which marked the longest consecutive weekly drop since the 17-week decline from October 2014 through January 2015.  Shell photo. [Read more] [Read more]

News

OPEC production posts biggest drop in nearly 2 years

January 3, 2019 Energi Staff

Overall OPEC production fell in December according to a survey by Reuters, mostly due to a 400,000 barrel per day cut made by Saudi Arabia.  Iran and Libya posted involuntary production declines.  Reuters file photo [Read more] [Read more]

Opinion

Opinion: Trump presses Saudi oil advantage after Khashoggi

November 22, 2018 Energi Staff

John Kemp writes “There is little doubt the Khashoggi killing has weakened the kingdom’s international position and made it more anxious to maintain support from the White House”.  Jamal Khashoggi photo via Twitter. By John [Read more]

oil sands backlog
Alberta

Notley asks Trudeau to share cost of 120,000 b/d unit trains to help clear oil sands backlog, boost prices

November 22, 2018 Energi Staff

The Alberta government is looking at a plan to purchase rail cars to help clear the oil sands backlog which has significantly driven down the cost of Alberta crude.  Western Producer photo by Robin Booker.  [Read more]

saudi crude shipments
News

Saudi crude oil shipments to be cut by 500,000 b/d after Trump grants Iran sanction waivers to China, India and 6 other countries

November 12, 2018 Energi Staff

Saudi crude shipments are expected to be reduced in December by 500,000 barrels per day next month, according to the kingdom’s energy minister.  Bloomberg photo. Saudi crude shipments cut in response to lower seasonal demand [Read more]

Iran sanctions
News

US grants Iran sanctions waivers to eight countries, including China

November 5, 2018 Energi Staff

The Trump administration is temporarily granting eight countries permission to purchase oil from Iran.  The Iran sanctions exemptions for China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey are set to last up to [Read more]

oil and gas exporters
News

Oil and gas exporters to face unprecedented challenges: IEA study

October 25, 2018 Energi Staff

According to a report by the International Energy Agency, major oil and gas exporters will need to commit to reform and economic diversification to cope with the changing dynamics of global energy.  Shutterstock photo. Higher [Read more]

iran sanctions
News

Iran sanctions clouds oil and gasoline price forecasts

October 24, 2018 Energi Staff

The effects of the US reimposing Iran sanctions and the potential response from members of the OPEC and other countries pose significant uncertainty to the forecast.  Al Jazeera photo. Trump administration re-imposed Iran sanctions in May [Read more]

NOPEC
News

OPEC: Talk market stability, not oil prices to avoid NOPEC

October 17, 2018 Energi Staff

NOPEC, or No Oil Producing and Exporting Cartels Act has been dormant for years as past presidents have signalled they would veto any move to pass the legislation.  Anadarko photo. NOPEC could open OPEC up [Read more]

oil weapon
Opinion

Opinion: Saudi Arabia’s oil weapon doesn’t work

October 16, 2018 Energi Staff

John Kemp argues there is no way to wield the oil weapon which would not shake the foundations of the U.S.-Saudi alliance on which the kingdom’s defence depends, leaving it vulnerable to regional rivals, including [Read more]

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In the Spotlight

Smith’s panel on Alberta’s energy future is a bad joke

by Markham Hislop in Markham on Energy

“A new advisory panel will develop a long-term vision for Alberta’s energy future and recommend steps the province should take to ensure the industry [emphasis added] continues to thrive for decades to come.” Premier Danielle [Read more]

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