(BOE Report) – A series of new Canadian crude oil export pipeline projects could help the world’s fourth-largest oil producer meet global demand and come closer to achieving Prime Minister Mark Carney’s “energy superpower” ambition. At least six different pipeline projects are underway or proposed, which together could increase the country’s export pipeline capacity by 2.25 million barrels per day
(Oil Price) – U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This is bad news for production growth. Bloomberg reported earlier this month that all the big names in shale had reduced their spending over the first six months of
(BOE Report) – The Strait of Hormuz will remain shut until the U.S. meets the conditions of an interim deal signed with Iran in June, the top Iranian negotiator Mohammad Baqer Qalibaf said in comments published by state media on Tuesday. These conditions include the U.S. liftingits blockade of Iranian ports, lifting oil sanctions,releasingTehran’s frozen assets, and ending threats and
(Oil Price) – Declarations by Iran and the U.S. earlier this week make the prospect of peace in the Middle East even more distant, driving crude oil prices higher. Meanwhile, the diesel crack spread in the U.S. topped $100 per barrel for the first time in history. At the time of writing, Brent crude was trading at $91.33 per barrel, with West Texas
