The world is awash in oil, there’s little demand for it and we’re running out of places to put it. That in a nutshell explains Monday’s strange and unprecedented action in the market for crude oil futures contracts, where traders essentially offered to pay someone else to deal with the oil they were due to […]
The Organization of the Petroleum Exporting Countries, Russia and other oil-producing nations on Sunday finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, in hopes of boosting crashing prices amid the coronavirus pandemic and a price war, officials said. “This could be the largest reduction in production from […]
The chief executive officer of the Canada Pension Plan Investment Board says Monday’s oil price crash and stock market selloff will hurt Canadian energy companies that have weak balance sheets and high debt. But Mark Machin says those with strong books will survive — and companies with money should be following his organization’s example and […]
Crude oil suffered a major sell-off in November, the steepest decline the commodity has seen in over a decade. As 2019 gets started, how should institutional investors handle their exposure to the commodity? Some pension plans may already be at capacity in terms of their asset mix for oil-exposed investments like corporate bonds and domestic […]