The volatility of international oil markets hit home again earlier this week, as crude prices tumbled to their lowest levels in more than a year. Just a couple of weeks ago, West Texas Intermediate (WTI) prices — North America’s benchmark for crude oil — were around $75 US a barrel. This week, prices skidded to … Read more
As the urban centre at the heart of Canada’s oilsands industry, Fort McMurray has seen more than its share of ups and downs. A decade and a half ago, the northern Alberta community was this country’s most famous boom town. High oil prices helped to drive unprecedented demand for the thick, viscous bitumen that lies … Read more
Tapping into Latin America nations will help India diversify its import basket, with industries like IOC and HMEL securing 4 million barrels of Venezuelan oil in February “India, the world’s third largest oil consuming and importing nation, welcomes the return of Venezuelan oil to the market after sanctions on the Latin American nation were eased”, … Read more
