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Oil prices News

Oil prices mixed amid slowdown fears along with supply problems

On Monday March 25 oil prices were mixed. Investors are busy weighing the importance of a slowdown of global economic growth as against tighter crude oil supplies and lower US inventories of crude.

Canadian oil sands outage shakes up global oil prices

Alberta - All eyes were on Vienna last week as OPEC leaders met to discuss a production cut deal - But according to Goldman Sachs, the real action was in Canada's oil sands. Syncrude Canada announced it would be offline for all of July due to a power outage.

OPEC acknowledges supply cuts didn't work

The Organization of Petroleum Exporting Countries (OPEC) for the first time, is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.

Oil hovers near $70 highs while U.S. and Canada output increases

Oil prices started the week just below $70 on Monday, pressured by a rising U.S. rig count, even as the price of crude continues to hover near record three-year highs.

Oil hits highest prices since mid-2015, then dips

Both Brent Crude and West Texas Intermediate (WTI) started trading in 2018 above US$60 a barrel for the first time since January 2014, before prices collapsed.

White House takes steps to allow drilling in Alaska Arctic refuge

The 19.6 million-acre Arctic National Wildlife Refuge in Alaska is under attack again from President Trump. The information comes about through a memo from US Fish and Wildlife Service acting director James Kurth on August 11.

Op-Ed: OPEC's issues being worsened by technology and electric vehicles

The turmoil being seen in the oil and gas industry, along with the surge in technologies behind the electric vehicle, wind and solar industries are about to butt heads in a showdown that will eventually lead to the demise of OPEC.

Trump's planned sell-off of some oil reserves roils oil markets

Washington - The Trump plan to sell off half of the US strategic oil reserve was a surprise move and goes counter to OPEC's attempts to limit supply and boost prices.

Oil prices fall amid slower demand and high U.S. output

Oil prices are still sluggish, actually losing ground this week because of continuing concerns over slowing demand and the rise in U.S. oil output. Investors have just about lost faith in OPEC's ability to re-balance the market.

Oil price declines as Libyan oil field resumes production

Oil prices fall as Libya's Sharara oil field resumed production after a shutdown that lasted a week. The National Oil Company lifted force majeure on loadings of crude oil from the field on Monday April 3

Oil prices plummet and stock markets drop on a risk off day

Crude oil inventories showed a record weekly build stoking investor worries of a global supply glut. While OPEC announced a production cut on Sept. 27, many analysts believe that the cuts may not be that significant.

Canadian and global stock markets in a steep decline

Ottawa - Stock markets declined around the globe on concerns about China and slumping oil prices. At close Friday, the Dow Jones dropped 390.97 points, the S&P 500 fell 41.55 and the Nasdaq slid 126.58 points.

Op-Ed: 2015 a down year for Canadian stock indices loonie and oil prices

Ottawa - On the final trading day of the 2015 on Thursday, the S&P/TSX composite in Toronto was at 13,009, a loss of 132 on the day and off 11 percent from a year ago. This is the worst performance since 2011.

2 charts show how brutal the oil business is

Bankruptcies in the oil and gas sector in the US have reached levels last seen in the Great Recession. OPEC, the Organization of Petroleum Exporting Countries, predicts oil won't price above $100 a barrel for more than 20 years.

Loonie dives and so do oil and stock prices

Toronto - The Canadian dollar dropped to its lowest level compared to the U.S. dollar since June of 2004. At the close of trading, the loonie was down .84 cents to 74 cents and was even below that level during the trading session.

Bank of Canada slashes key rate as economy falters, exports stall

Stephen Poloz avoided using the word recession, but the Bank of Canada Governor said the country needs interest rate relief because the economy is in contraction.

Op-Ed: Greed, taxation, and incompetence

Calgary - While low oil prices wreak havoc on Alberta's economy, costing jobs, the men and women at City Hall are laughing all the way to the bank with new pay raises at a time when many Calgarians wonder if they will soon hit the unemployment line.

Prices tumble for both stocks and oil

Stock markets in the United States, Canada, China, and Greece among other countries fell today after a sharp drop in oil prices yesterday and a further drop today.

Op-Ed: Saudi's market share challenged by U.S. shale producers

Vienna - The last two days of this week after OPEC decided not to cut current production levels, oil prices plunged by 10 percent just within the span of the last two days of the week.

Have gas and oil prices reached their peak for 2012?

Four separate reports out this week suggest that the pain at the pump is starting to gradually ease for most Americans and possibly showing signs that the worst may be over.

Iran war could cause 30% increase in oil prices says IMF chief

If the flow of oil from Iran is cut, this may cause a surge in crude prices of up to 30%, dealing a serious blow to the world economy, warns IMF chief, Christine Lagarde.

Saudi Arabia vows to bring oil prices down

Riyad - Saudi Arabia has announced it will work both individually, and in coordination with other GCC countries, to bring the price of oil down to reasonable levels.

Iran stops oil exports to six European countries

Iran has taken preemptive steps against a European Union ban on Iranian oil imports, due to come into effect on July 1, by cutting oil exports to six European countries.

Top Stories Public Followed In 2011

Now that the new year is here, it's time to take a look at what we the people, followed most closely last year. Pew Research has compiled, not a top 10 best list, but rather those stories that gained our attention the most.

Oil prices reach a 2.5-year high amid Middle East turmoil

Oil prices hit a two-and-a-half year high on Thursday, but pulled back late in the session. Brent crude closed at $111.36, up 11 cents while West Texas crude, the US benchmark, closed at $97.28, down 82 cents.

Oil prices reach highest level since ’08, markets tense

New York - A decline in oil production in Libya as a result of the escalating violence has caused oil prices to reach their highest level since 2008 and experts say national and global economic recoveries could be in jeopardy if protests spread through the region.

Canadian Dollar Trading Below 80 Cents U.S.

The Loonie is being pulled down by falling world markets and declining oil prices and is trading below 80 cents U.S. today.

Op-Ed: A Gold Medal for Last Week's Bull Rally

It was beautiful. It was wow. It was unbelievably exciting. It was indescribable. It was beyond superlatives and no we are not talking about the spectacular display at the Beijing National Stadium, it was the bull rally last week on Wall Street.

Op-Ed: Republicans Trying To Force Offshore Drilling On The Nation

If the Republicans are really concerned about the rising gasoline prices they should help pass pass the bill to rise oil from the strategic reserves instead of jeopardizing the environment by blindly pitching for offshore oil drilling.

Op-Ed: World Needs To Move Out Of OPEC’s ‘Oil Claw’

The world can no longer afford to be an 'oil puppet' at the hands of the oil producing nations. It's time to move to renewable energy sources to achieve total energy independence.
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Dallas Fed
OIl prices as of 11:59 a.m. Eastern Time on Fedruary 27  2017.
OIl prices as of 11:59 a.m. Eastern Time on Fedruary 27, 2017.
Oil Price
Oil pices at close of trading on March 14  2018.
Oil pices at close of trading on March 14, 2018.
Bloomberg Energy
Muammar Al-Gaddafi
Muammar Al-Gaddafi
U.S. Navy photo by Mass Communication Specialist 2nd Class Jesse B. Awalt
Energy sector bankruptcies are on the rise as spending has fallen.
Energy sector bankruptcies are on the rise as spending has fallen.
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