Last Friday, November 26, oil prices dropped $US 10/B after a new COVID variant named Omicron was discovered. The same day, the Canada Energy Regulator (CER) made a historic decision to deny Enbridge’s application to enter into long-term contracts for 90% of the Mainline oil pipeline.
Jackie and Peter discuss the volatile oil markets, the possible impacts to global oil demand and the significance of the CER’s decision to keep Canada’s dominant pipeline open access for all.
View the CER’s full decision on the Enbridge Mainline Contracting Application (link).
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