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US Shale Producers Unlikely to Heed Trump’s Call to “Drill, Baby, Drill” as Rally Fades

US shale oil producers are unlikely to increase production in response to President Donald Trump’s call to “Drill, Baby, Drill” and will instead prioritize hedging contracts to lock in revenue. Companies are wary of being caught off guard by another false start in global crude markets and will not spend heavily on new drilling without …

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Enbridge Eyes New Pipeline to Boost Canadian Oil Flows in US

Enbridge Inc. and Energy Transfer LP are gauging interest in increased pipeline capacity in Illinois to help rising Canadian oil sands production reach more markets in the Midwest and the US Gulf Coast. The Southern Illinois Connector project would transport up to 200,000 barrels of crude a day by reconfiguring and upgrading existing systems and …

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Right Canada-US deal Possible but Nothing Assured, Canadian PM Carney Says

Canada and the United States have a chance to strike a new economic and defense relationship but nothing is assured, Canadian Prime Minister Mark Carney said on Monday. Last Monday, Carney said he had agreed with U.S. President Donald Trump that their two nations should try to wrap up talks on a new deal within …

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The Strait of Hormuz is a Vital Route For Oil. Closing it Could Backfire on Iran

The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint due to the large volumes of crude that pass through it every day. The U.S. military’s strike on three sites in Iran over the weekend has raised questions …

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