The Canadian dollar hit an 11-year low Monday as oil prices fell more than 6 per cent and global markets tanked in the wake
The Toronto Stock Exchange had its best week in three years, closing the day up 121.51 points, at 14,468.26. It was the fourth
Oil prices are coming down fast, and analysts say that’s bad news for Canada’s oil-producing provinces. But what’s bad news
Without pipeline access to the Gulf, or to the Pacific to supply Chinese customers, Canadian oil producers get what Midwest refineries will give them. And that's a huge discount to what the rest of the world will pay. If Canadian oil exporters can't get to world prices through the proposed Keystone XL pipeline to the Gulf of Mexico, they must find another route for their oil to flow.
The IEA warned that unless OPEC could increase production by at least 1.5 million barrels a day, world oil demand is going to surpass available supply during the second half of the year. If there is not enough supply to match the global economy's consumption, world oil prices have only one direction to go.
THE CANADIAN PRESS -- LONDON - Oil prices fell to near US$94 a barrel on Tuesday as financial markets were hit by worries
Just like water doesn't flow uphill, oil can't be expected to flow in ways that defy price gravity. Basic economics says Canadian oil will ultimately flow to where it gets its greatest return. And that isn't to already near full storage tanks in Cushing.