Oil Prices

• Nova Scotia won’t use revenues from fuel tax to buffer effects of carbon pricing

  Premier Tim Houston says his province is questioning the formula used by the federal government to calculate the carbon pricing rebate to be given to Nova Scotians.

  Canada

  Nov 24
  
• OPEC slices oil demand growth forecast again as economic challenges mount

  The group, which recently cut production targets, will remain cautious, Saudi Arabia's energy minister was quoted as saying last week.

  World

  Nov 14
  
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• G7 price cap on Russian oil will only apply to seaborne crude, official says

  Coalition officials told Reuters on Thursday that the price level be a fixed per-barrel dollar price that would be regularly reviewed, rather than a discount from market prices.

  World

  Nov 4
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• Alberta’s oil production booming but majority of revenue leaving province

  Alberta's oil production is booming but a smaller share of revenue is staying in the province.

  Economy

  Oct 23
• 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
• Russia one of the ‘biggest threats’ to world economy amid recession fears: Freeland

  This week, the International Monetary Fund cited the war in Ukraine as one of the drivers for cutting its global growth forecast for 2023.

  Canada

  Oct 14
• Biden re-thinking U.S.-Saudi relationship after OPEC+ cuts oil production: White House

  U.S. President Joe Biden was disappointed in the OPEC+ decision to cut global oil production and is rethinking the country's relationship with Saudi Arabia as a result.

  Economy

  Oct 11
• 10-cent fuel price bump expected at Ontario stations overnight: petroleum analyst

  Fuel prices at most Ontario stations are expected to rise 10 cents per litre overnight Wednesday, according to the website Gas Wizard.

  Economy

  Oct 4
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• Albertans to see tax hike on gas prices Oct. 1

  Retailers have been told by the UCP government to begin collecting 4.5 cents per litre in provincial fuel taxes as the average closing price of WTI has fallen below $90 per barrel.

  Consumer

  Sep 22
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• OPEC and allies trim oil outputs as recession fears drive down prices

  Oil prices have gyrated in recent months: Recession fears have pushed them down, while worries of a loss of Russian oil because of sanctions pushed them up.

  Canada

  Sep 5