Sunday, April 26, 2026

CNOOC to Cut Production and Spending

CNOOC’s 2016 plan looks to lower production for the first time in a decade Lower oil and gas prices are forcing at least one of China’s producers to lower its production goal for 2016. In a press release Tuesday, China National Offshore Oil Corporation (CNOOC, ticker: CEO) announced that it plans to produce 5% less than in 2015, and cut

Bank of Canada Holds Interest Rate Ahead of Federal Budget

Bank of Canada holds the overnight rate at 0.5% The Bank of Canada announced that it would continue to hold its overnight interest rate at 0.5%. Economists were split down the middle regarding whether or not the Bank of Canada would hold or cut the rate that retail banks charge each other for short-term loans. In maintaining its overnight rate