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News

EIA expects lower crude oil price for the second half of 2023 and for 2024

May 23, 2023 Energi Staff

This article was published by the US Energy Information Administration on May 22, 2023. By Matthew French We lowered our crude oil price forecast for the rest of 2023 and for 2024 in our May Short-Term [Read more]

News

What is OPEC+ and how is it different from OPEC?

May 9, 2023 Energi Staff

This article was published by the US Energy Information Administration on May 9, 2023. By Sean Hill, Owen Comstock The Organization of the Petroleum Exporting Countries, also known as OPEC, was formed in 1960 by Iraq, Iran, [Read more]

News

US crude oil imports from OPEC down, but imports from Canada remain high

May 6, 2021 Energi Staff

This article was published by the US Energy Information Administration on May 5, 2021. By Jozef Lieskovsky, Matt French, Richard Yan Voluntary OPEC production cuts have been contributing to reduced US crude oil imports from OPEC [Read more]

News

Low oil prices cut almost one million b/d of western Canadian oil supply by mid-May

June 24, 2020 Energi Staff

This article was published by the Canada Energy Regulator on June 24, 2020. To slow the spread of the COVID-19, countries around the world have imposed travel restrictions and stay-at-home orders. This has significantly reduced [Read more]

News

Oil prices volatility at an all-time high

March 30, 2020 Energi Staff

By Jesse Barnett, Jeff Barron This article was published by the US Energy Information Administration on March 27, 2020. Crude oil prices have fallen significantly since the beginning of 2020, largely driven by the economic [Read more]

News

How 2020’s falling oil prices compare to other historic crude markets events

March 25, 2020 Energi Staff

This article was published by the Canada Energy Regulator on March 25, 2020. As of Friday 20 March 2020, the spot price for West Texas Intermediate (WTI) crude oil decreased by 65 per cent from [Read more]

Opinion

IEA Oil Market Report: Taking a breather

September 12, 2019 Energi Staff

This article was published by the International Energy Agency on Sept. 12, 2019. The oil market focus recently has been on demand as growth weakens amidst uncertainty around the global economy, and particularly trade. In [Read more]

Financial

Oil prices fall on rising US crude stockpiles

March 6, 2019 Energi Staff

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]

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]

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

OPEC production sees largest monthly drop since Jan. 2017

January 31, 2019 Energi Staff

According to a survey by Reuters, OPEC production saw its largest monthly decline in two years this month.  The decline is due to the cartel’s most recent supply cut agreement.  Reuters photo. OPEC production down [Read more]

News

Iraq oil production nearly doubled over the past decade

January 11, 2019 Energi Staff

Iraq oil production averaged 4.5 million b/d through Aug. 2018, up from 4.4 million b/d in 2017.  Iraq’s oil production has nearly doubled in the past decade.  Reuters photo. Iraq oil production, consumption on the [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

IEA: A floor under oil prices?

December 13, 2018 Energi Staff

OPEC and some non-OPEC oil ministers met in Vienna last week and agreed to curb their output by 1.2 million b/d in order to address growing surpluses and dropping oil prices in the market.  OPEC [Read more] [Read more]

Financial

Oil prices up after Russia agrees to OPEC output cut

November 29, 2018 Energi Staff

Oil prices climbed on Thursday after industry sources reported that Russia has agreed for the need for crude output cuts for 2019.   Equinor photo. Oil prices up over 2 per cent US oil prices jumped [Read more] [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: Oil weapon has proved a double-edged sword

October 17, 2018 Energi Staff

Following the oil shocks of the 70s, OPEC members never resorted to the oil weapon – not out of goodwill to consumers but because it did not work and did long-term harm to their own economies.  [Read more]

oil market
News

OPEC: Oil market well supplied, unconvinced of 2019 surplus

October 11, 2018 Energi Staff

OPEC’s Secretary General Mohammad Barkindo said on Thursday that the cartel sees the oil market well supplied and in concerned that an increase in production could cause another supply glut. Reuters photo by Heinz-Peter Bader. [Read more]

oil prices
Opinion

Opinion: Oil prices enter the danger zone for consumers

October 4, 2018 Energi Staff

Oil prices have already risen to a level that has contributed to a slowdown in economic growth and oil consumption in the past.  Equinor photo. Oil prices drop Thursday, but sit at over $84/barrel By [Read more]

oil glut
News

Saudi Arabia to boost output, but forecasts oil glut in 2019

September 27, 2018 Energi Staff

According to a report by Reuters, Saudi Arabia is set to quietly add extra crude to the market in the coming months, however, the kingdom is worried that rising US production will lead to an [Read more]

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In the Spotlight

Notley ignores energy and loses election again. Time for a new NDP leader

by Markham Hislop in Markham on Energy

Rachel Notley is not the person to craft or deliver a new energy vision for Alberta. She has proven that repeatedly over past 4 years How do you hope to be premier of Canada’s energy [Read more]

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