118 Articles
sun sets, pump jack, Karnes City, Texas,

Wheeling and dealing in oil

Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushed energy companies toward bankruptcy.
pumpjack, oil and gas installation, foggy day, Cremona, Alta.,

Feds weigh who to bail out

Canada's oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global demand and a production war between Russia and Saudi Arabia that flooded the market with more oil it didn't need.