COMMENTARY: Oil is not ‘dead’ despite the eagerness of some to write its obituary

As much as airlines are suffering as a result of this pandemic — and that very much includes Canada’s major airlines — it would be absurd to argue that the airline industry is “dead.” To be sure, the industry faces…

Steadier prices no cure for Western Canada’s natural gas producer woes

Stronger and more stable natural gas prices in the wake of North American oil production cuts are offering hope for better times to some gas producers but haven’t changed Keyera Corp.’s plans to “optimize” its gathering and processing assets. The…

Oil prices are in the negative: COVID-19 rules to stay home played a huge part

As oil prices dropped to unprecedented negative levels Monday, experts say it is all the result of an oversupply problem that was pushed to this point due to stay-at-home orders related to COVID-19. Related News Crude oil prices hit their…

Despite OPEC agreement, Canadian oilpatch cutbacks expected to continue

By Staff The Canadian Press Posted April 13, 2020 12:48 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ Energy market analysts say Canadian oil wells will likely continue to be shut down amid…

‘This is good:’ Natural resources minister welcomes oil nations’ deal to cut production

By Staff Reuters Posted April 12, 2020 6:49 pm Smaller font Descrease article font size –A Larger font Increase article font size A+ OTTAWA  — Canada on Sunday formally welcomed a deal by OPEC and allies to cut oil output…

OPEC, oil nations agree to record-setting oil production cut amid coronavirus pandemic

OPEC and allies led by Russia agreed on Sunday to cut oil output by a record amount — representing around 10 per cent of global supply — to support oil prices amid the coronavirus pandemic, and sources said effective cuts…

Global deal in the works to pump less crude oil, stabilize market

Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets…

Feds torn between moving toward cleaner energy or bailing out oil and gas sector

Canada’s oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global…