Dan Neuman on Nostr: On Monday, Western Canada Select oil prices dropped to US$44.78/barrel, the lowest ...

On Monday, Western Canada Select oil prices dropped to US$44.78/barrel, the lowest price it has seen since January 2021. Over the weekend OPEC announced it would increase output by 400,000 barrels per day. Sustained low prices will shut down the Alberta oil sands and dramatically reduces the royalties the Alberta government receives.

Charts: https://oilprice.com/oil-price-charts/

News: https://oilprice.com/Latest-Energy-News/World-News/OPEC-Stuns-Market-With-Larger-Than-Expected-Output-Hike.html

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