An Austrian Armed Forces soldier wearing a face mask patrols in front of the Organization of Petroleum Exporting Countries (OPEC) headquarters in Vienna, Austria, 09 April 2020. . 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 […]
Read MoreAmerica’s economy is a massive beast. With just 4.3% of the global population, the U.S. produced 25% of the world’s GDP in 2019. As Mark Perry, a scholar at the American Enterprise Institute, points out, four America’s states combined (California, Texas, New York and Florida) each produced more than $1 trillion in output and together […]
Read More(GETTY) In a time of utter uncertainty for Canadian oil and gas, Alberta Energy Minister Sonya Savage’s presence on Thursday’s video call with OPEC, its allies, and non-OPEC nations, is a source of comfort for leaders in the industry. Savage is representing the interests of the Canadian energy patch in the historic talks hosted by […]
Read MoreCanadian heavy crude’s discount widened modestly versus the U.S. benchmark West Texas Intermediate (WTI) oil on Thursday, as data showed western Canadian crude inventories fell in March and investors awaited details on a massive OPEC supply-cut agreement. Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $19.25 per barrel […]
Read MoreAlberta oil well in canola field Canada’s fleet of active drilling rigs shrank from 41 to 35 since last week according to data from Baker Hughes. Total drilling count was 35 at April 9th. 6 rigs were drilling for oil; 29 for natural gas. The drilling activity in Alberta fell from 29 to 22 since […]
Read MoreCalgary, Alberta–(Newsfile Corp. – April 9, 2020) – Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") announced today that its upcoming Annual Meeting of Shareholders ("Shareholders Meeting") will now be held at the Company’s head office at Suite 300, 311 Sixth Avenue SW, Calgary, Alberta. The Shareholders Meeting date will continue to be on […]
Read MoreCanada’s oil-producing province of Alberta has not been asked by OPEC for further crude curtailments to ease a global glut and has made clear to OPEC and the United States it already did its part, Alberta’s premier said on Thursday. The coronavirus pandemic has slashed oil demand as countries shut down much of their economies, […]
Read MoreOPEC headquarters in Vienna, Austria OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis. The Organization of the Petroleum Exporting Countries and other producers including Russia, a group known as OPEC+, began a meeting on Thursday, which […]
Read MoreThe Covid-19 pandemic has devastated global oil demand while producing countries fail to agree on output cuts, and as onlookers have predicted, it was a matter of time until shut-ins would start. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated to reach above 1.1 […]
Read MoreOur perceptions about the future change dramatically in bear markets. We’re barraged with revised economic forecasts, and the gloomy ones always seem to have the most credibility. Sometimes these negative views change how we think about economic and market cycles. When we’re under siege, cyclical downturns get re-categorized as permanent, secular trends. In other words, […]
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