Tag: OPEC

Oil Prices Dip Into Negative Territory As Market Crashes | Roadshow

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The US oil market witnessed history as the price dived under $0 a barrel for the first time as the coronavirus pandemic bites. US oil prices crashed below $0 a barrel on Monday and spiraled into negative territory for the first time ever. In a historic crash, oil futures opened at their lowest level since 1983. With hundreds of millions of people around the world staying at home to stop the spread of COVID-19, travel by car or plane is nearly nonexistent. Factor in a major lag in manufacturing and…

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Gasoline Prices In Most Of Canada Set To Experience ‘Extreme Volatility’ | CTV News

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CALGARY — Plunging world oil prices have delivered a Christmas miracle of lower gasoline prices across most of Canada but a fuel price expert says motorists should fill up now because prices are expected to be volatile in 2019. Dan McTeague, a senior petroleum analyst at GasBuddy.com, says gasoline prices are at near-18-month lows because of global oil prices that have tumbled over the past two months on worries of an economic downturn, a U.S.-China trading tiff and concerns that members of the OPEC oil cartel won’t live up to…

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Canadians Could Pay Over $1,000 For Gas This Summer – National | Globalnews.ca

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Gas prices in Canada are approaching record highs and could remain there through much for the summer. With oil prices climbing, drivers from coast to coast are likely in for the priciest driving season in four years, according to analysts. The national average gas price is currently hovering around $1.34 a litre, up from around $1.09 a litre this time last year, said Dan McTeague, senior petroleum analyst at GasBuddy. And there are few signs that the pain at the pump will ease off as the spring turns into summer. Gas prices…

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