Senator Paula Simons posted this letter on her Facebook page on May 16, 2019. The image up above is of the Skeena River. I took this photo as I traveled from Prince Rupert to Terrace [Read more]
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]
Oil prices rose slightly Thursday on OPEC supply cuts as well as US sanctions on crude from Iran and Venezuela, however, gains were capped by falling stock markets and concerns about weakening demand growth. [Read more]
Oil prices slipped on Wednesday after data from the US Energy Information Administration showed a significant increase in US crude stocks, but a third draw down in gasoline inventories helped underpin crude prices. Anadarko photo. [Read more]
Oil prices were flat on Tuesday as the market considered the OPEC supply alongside weakening global demand and the restart of Libya’s biggest oilfield. BP photo. OPEC announced it will likely extend its supply pact [Read more]
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]
Alberta Premier Rachel Notley appeared before a Senate committee considering Bill C-69 to argue that the legislation could deter investment in Canada’s oil sector. CPAC image. Bill C-69 revamps Canadian environmental approval process Alberta Premier [Read more]
In a tweet on Monday, US President Donald Trump warned OPEC not to tighten the oil market too much and risk another jump in oil prices that could harm the global economy. BP photo. Oil [Read more]
Oil prices fell significantly on Monday after US President Donald Trump tweeted a plea to OPEC to “relax and take it easy” and warned that the “world cannot take a price hike – fragile.” Oil [Read more]
Oil prices hit their highest level since mid-November on Friday as the market grew more hopeful that the United States and China would soon reach a deal to end the ongoing trade war. Anadarko photo. [Read more]
On Friday, the National Energy Board delivered its Reconsideration report to the Government of Canada, recommending that the Trans Mountain Expansion Project is in the Canadian public interest and that it should be approved by [Read more]
Oil prices dipped on Thursday from 2019 highs after data from the US Energy Information Administration showed the fifth weekly build in US crude stocks as well as record high US oil output. Anadarko photo. [Read more]
Hedge fund managers are gambling on Saudi Arabia’s determination to tighten the market and lift oil prices plus a relatively tough sanctions policy from the White House to counteract weakness from other sources. Repsol photo. [Read more]
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]
Hedge funds now hold a net long position of 266 million barrels in Brent, up from 136 million at the start of December, though still far below the almost 500-million-barrel position at the end of [Read more]
Shares in Suncor got a boost after investors learned that Berkshire Hathaway bought over 10 million shares in the company during the final quarter of 2018. Suncor photo. Warren Buffett’s investment company bought 10.8 million [Read more]
Benchmark Brent oil prices hit a 2019-high on Friday as investors were encouraged by the OPEC supply cut as well as a higher-than-expected drop in Saudi Arabia’s production. Oil prices up over 2 per cent [Read more]
Front-month Brent futures oil prices have jumped to almost $65 per barrel, up from just $50 in late December, and the highest for nearly three months. Equinor photo by Ole Jørgen Bratland. Oil prices rise [Read more]
In its Oil Market Report released on Feb. 13, the International Energy Agency discusses US sanctions against Iran and Venezuela and their impact on the US Gulf Coast refiners. Valero photo. Oil Market Report: Crude [Read more]
Oil prices rose on Tuesday on OPEC data showing a sharp reduction in output last month. On Monday, Saudi Arabia announced it will cut its production in March by an additional 500,000 barrels. Repsol photo. [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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