The oil price affects all of us, so its movements are a popular target of speculation. So far in 2019, the oil price has been tracking upward, and oil-market watchers are asking themselves if it could hit $100 per barrel soon. The definitive answer remains elusive, as the multiple and at times conflicting elements that determine the price of oil are in a word: complicated. Stay tuned as OPEC meets in June.
It’s not often that Canadian oil markets require the intervention of the government to put them back on course. In fact, the last time such a scenario transpired was all the way back in 1981. But in late December, that’s just what happened in the province of Alberta, home to the country’s abundant oil-sands industry.
By the end of August 2016, official data had confirmed that the second quarter of the year had seen a 2-percent contraction in Nigeria’s economy, from the same three-month period in 2015. Given that this was the second consecutive quarter of negative GDP (gross domestic product) growth, it meant that Africa’s biggest economy had slipped into a recession—a situation from which it is yet to escape.