Eight OPEC+ producers accelerate crude oil output hikes, oil drops
- OPEC Plus has increased May production quotas, raising concerns about crude oil demand and prices.
- West Texas Intermediate crude oil prices dropped sharply, settling at $61.99, the lowest in almost four years.
- The energy index on the TSX fell by 8.7% amid fears of an impending recession, while the overall Canadian market decreased by 4.7%.
- Mark Parsons noted that the Canadian oil and gas sector is currently in 'wait-and-see mode' and could adjust capital expenditures if low prices persist.
164 Articles
164 Articles
‘Hard to stomach’: Oil prices slump below Alberta’s budgeted barrel price amid economic uncertainty of Trump tariffs
As oil hits a low not seen in years, and stock markets sink in response to U.S. President Donald Trump's tariffs, experts and industry are bracing for what it might mean for Alberta and Albertans.
Brent Below $65: Who Stands Firm in the Oil Market?
(Analysis) The global oil market faces a stern challenge. Brent crude, the world’s pricing standard, has fallen 8% to $64.50 per barrel as of April 4, 2025, its lowest in four years, while America’s West Texas Intermediate (WTI) stands at $61.50. This decline, steeper since Brent’s $71.04 and WTI’s $68.26 on March 4, stems from […]
U.S. Oil Price Skids To 4-Year Low; Goldman Slashes Oil Outlook
Oil price could fall as low as $50 as Saudis launch price war. Gasoline prices set to be a bright spot in Trump's trade war. The post U.S. Oil Price Skids To 4-Year Low; Goldman Slashes Oil Outlook appeared first on Investor's Business Daily.

Steep drop in global crude prices drag down Canadian energy stocks
CALGARY - Fears of a tariff-driven recession has led to a steep drop in the price of crude oil, walloping Canadian energy stocks and stoking worry about the sector's outlook should the weakness persist.
Oil prices continue to decline due to Trump's tariffs and fears of a global trade war.
Shafaq News/ Oil prices continued to suffer losses in early Asian trading on Friday, heading towards their worst weekly performance in several months, against the backdrop of new tariffs imposed by US President Donald Trump, which raised fears of a global trade war that could affect oil demand. Brent crude futures fell 31 cents, or 0.4 percent, to $69.83 a barrel by 0157 GMT, while US West Texas Intermediate (WTI) crude futures fell 32 cents, or…
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