Thursday, July 30, 2026

Trudeau’s Reforms Won’t Break Pipeline Logjam, Oil Groups Warn

From Bloomberg It’s a rough time in Canada’s oil patch, and the energy industry is warning that Justin Trudeau is about to make it worse. The bottom has fallen out of Canadian heavy crude prices, with their discount relative to the U.S. benchmark near a record amid a supply glut and persistent transport constraints. Trudeau’s government, meanwhile, is both trying to complete

Russia

Russian Oil May Gain a Lot by Giving a Little on OPEC U-Turn

From Bloomberg Russia’s oil industry is feeling the pressure of a possible return of production caps. In fact, by sacrificing a fraction of output, the companies could see their stocks rise. Fresh output curbs may push crude prices up, benefiting Russian producers just as they did during the cuts that began last year. The Moscow Oil & Gas Index has

Finding Costs Drop to 10-Year Low - Oil & Gas 360

Oil Falls as Rising Global Supply Forces Price U-Turn

From Reuters Oil edged lower on Thursday, surrendering early gains, as investors focused on the pace of growth in global crude supply, which is increasing more quickly than many had expected. Chinese data earlier in the day that showed record oil imports in October offered some temporary respite to bearishness that has developed in the past couple of weeks over

Norwegian Oil, Gas Plants Shut After Tanker, Frigate Collide

From Reuters An oil tanker and a Norwegian navy frigate collided off Norway’s west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway’s top gas processing plant and several offshore fields. The frigate, which recently took part in a major NATO military exercise, was aground and tilting on one side,