The oil market is undertaking a great new experiment. Historically, the market has relied on OPEC to “swing-up” their production quickly in the face of a supply shock. But today the cartel is in the process of swinging its taps fully open. In the future, it will be up to North American light tight oil […]
It may come as a surprise ̶ especially considering the recent volatility in the price of oil ̶ that market fundamentals have improved in the last three months. For the first time in two years, the world market is now nearly balanced, meaning that oil consumption is almost equal to production.
This Sunday, June 26th, the long-awaited Panama Canal expansion will open. The upsized waterway benefits US Liquefied Natural Gas (LNG) exporters, who now have a shorter path to Asia. Meanwhile, market access for Canadian natural gas remains landlocked.
While the size of the devastating wildfires in Fort McMurray is not yet fully understood, we do know that the blaze will leave a lasting scar on the community and province for many years to come.
