COVID-19 is resulting in dramatically decreased demand for gasoline and jet fuel, but it’s just the latest in a string of bad news for oil producers.
COVID-19 is a huge challenge for the whole world, and Canadian oil producers, already suffering from long-term market trends, will be particularly badly hit.
Suffering from sanctions, Russia is trying produce more and gain market share.
Yegor Aleyev via Getty Images
Has the world entered an era of ultra-low prices? An energy scholar argues that a long period of low oil prices will set the U.S. – and globe – back on the economy and the environment.
Here’s … Donny.
From May 2, any countries buying oil from Iran can expect US sanctions.
A sculpture of an oil pump held by a human hand stands outside the headquarters of Venezuela’s state-owned oil company.
AP Photo/Fernando Llano
Can a new government, perhaps by shoring up democracy and oversight, harness this commodity for peace and prosperity?
Ford’s F-150 trucks are more popular when gas costs less.
AP Photo/Carlos Osorio
Drivers buy less gas when filling the tank burns holes in their wallets.
Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih.
AP Photo/Ronald Zak
The oil-exporting organization may have mustered the political will to cut production, but its disunity remains intact.
Muhammad bin Salman is set on transforming the oil-rich kingdom into a modern, economically diverse superpower. It won't be easy.
Gas prices usually rise heading into long weekends. The reasons behind wild oil price fluctuations, reflected at the pumps, is about a lot more than economics.
THE CANADIAN PRESS/Jonathan Hayward
Oil prices have little to do with supply or demand or even economic forces. Instead, it's all about politics.
vladm / shutterstock
Our research on the oil cartel shows, that it really matters whether OPEC members 'failed to agree' or 'agreed to disagree'.
Are OPEC’s cuts all smoke?
Hasan Jamali/AP Photo
To see why, one must only consider the core economic principle of supply and demand.
OPEC’s leaders have less power at their fingertips these days.
OPEC's recent decision to cut supply is a classic move from the oil cartel playbook. But in today's era, there are many more players and game-changing technologies on the field.
B Christopher / shutterstock
An America that drills more, and imports less, could mean Opec no longer gets to call the shots.
OPEC can’t stop the flow.
OPEC has been declared dead in recent months as the group of oil-exporters has been unable to agree on a plan to stabilize the market. But was it really ever alive in the first place?
Geopolitics – from the US to Syria to Iran – are at the heart of Saudi Arabia and Russia's decision to freeze oil production at January levels.
Oil’s continuing slide so far isn’t leading to lower U.S. production, but concerns are growing that it’ll drive some out of business.
Producers keep pumping more oil, even as prices are falling to fresh 12-year lows every day. What's driving this?
Has the Bakken oil boom reached its peak?
OPEC is already suggesting the US oil boom will end this year. Wishful thinking.
Saudi workers have been given a pay bonus by their new king, but unless oil prices rebound the country will find itself eating into its US$750 billion sovereign nest egg.
In his first royal decree, Saudi Arabia’s newly crowned King Salman announced two-month bonuses for state employees, pensioners, students, and recipients of social service programs (that is, everyone in…
The sands of time will turn against the desert oil states.
Oil prices have now almost halved in six months to below $60/barrel thanks to OPEC’s refusal to cut production. This means all the member countries are revising their government spending policies. While…
At the recent OPEC meeting Saudi Arabia argued for oil production levels to remain stable.
As at early December, the international price of crude oil is around US$70 a barrel, depending on grade. Over the last six months, oil prices have slumped by 30% and crude oil is now at its lowest level…
In the 1970s, refineries in the Middle East controlled the world’s flow of oil. Not any more.
National Iranian Oil Company/Wikimedia Commons
With oil prices on the slide, members of the once-dominant Organization of the Petroleum Exporting Countries (OPEC) decided last week not to attempt to rally them by cutting production, leaving the Brent…