This blog is part four of a series that explores the intricate history of oil. 1973-1994: The Middle East Shrugs its Shackles It is important to understand that the oil industry is largely a Western invention and is very much American led. When America began making overtures to King Ibn Saud of Saudi Arabia in […]
The recent string of rebel takeovers in Iraq has affected not only the safety of its people but global energy markets as well. The last week of June 2014 marked a significant date for Brent-WTI spread pricing, as the Islamic State in Iraq and the Levant (ISIL) rebels took over Iraq’s largest oil refinery, Baiji. […]
Since Canada has one of the world’s largest oil sands projects (after Saudi Arabia and Venezuela), expected to pump out three million barrels a day by 2018 according to the western province of Alberta’s Government, it might come as a surprise that it is also a large importer of OPEC oil. In fact, Canada exports […]