Crude Oil Prices

• Deloitte forecasts rising crude oil prices over next three months

  Production cuts, including Saudi Arabia's announcement of an additional cut of one million barrels a day, should help to prop up prices despite weaker demand, the report says.

  Consumer

  Jul 6, 2023
  
• Alberta gas prices at standstill, while other major Canadian cities see price drop

  Several large metropolitan cities across Canada saw a drop in gas prices heading into the weekend but that wasn't the case in Alberta.

  Consumer

  Oct 16, 2022
  
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• Gas prices continue rising despite dip in crude oil price

  Analysts say lower crude oil prices are good news for drivers, but will only serve to slow the rate of increase at the pumps.

  Economy

  Mar 10, 2022
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• Murphy Oil Corporation closes Calgary office, moves headquarters to Houston, Texas

  Murphy Oil Corporation says the recent drop in crude oil prices is responsible for its decision to close its longstanding office in Calgary and relocate its corporate headquarters to Texas.

  Economy

  May 7, 2020
• Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021

  Precision Drilling reported a loss in its first quarter and warned that it expected a significant and sustained drop in customer demand for oil and gas services well into next year as a result of the recent plunge in oil prices.

  Economy

  Apr 30, 2020
• Calgary-based Cenovus Energy reports $1.8B first quarter loss as oil prices plunge

  Cenovus reported a $1.8-billion loss in its first quarter as oil prices fell due to a drop in demand as a result of the COVID-19 pandemic and a oil price war between Saudi Arabia and Russia.

  Economy

  Apr 29, 2020
• Economic ‘train wreck’ leaves Calgary-based Husky with $1.7B loss, prompts 90% dividend cut

  Husky slashed its dividend as it reported a $1.7-billion loss in its first quarter due to impairment charges related to the plunge in crude oil prices as a result of the COVID-19 pandemic.

  Economy

  Apr 29, 2020
• Producers advised to spend nothing on drilling as oil price hovers at US$25 amid COVID-19 pandemic

  World oil prices have fallen so low that Canadian producers are being advised not to spend any money on drilling and, in some cases, to stop producing crude oil from existing wells.

  Canada

  Mar 19, 2020
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• Western Canada oil prices remain strong as Alberta production cap kicks in

  Crude oil prices in Western Canada remained elevated on Wednesday, the day after provincially mandated oil production curtailments came into force, but a government spokesman says it's too early to say how long the program will remain in place.

  Canada

  Jan 2, 2019
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• Gasoline prices in most of Canada set to rise this weekend: energy analyst

  Dan McTeague, a senior petroleum analyst at GasBuddy.com, says gasoline prices are at near-18-month lows because of global oil prices that have tumbled over the past two months on worries of an economic downturn, a U.S.-China trading tiff and concerns that members of the OPEC oil cartel won't live up to production cuts.

  Economy

  Dec 27, 2018