oil Archives | Farmtario

Volatile oil market most likely to improve says analyst

Israel-Gaza war, Red Sea attacks having less impact than expected

By Glen Hallick January 9, 2024

As the global oil market continued to ready itself for 2024, one analyst stated it’s more likely prices will increase than to drop further. Phil Flynn of the Price Futures Group in Chicago said one’s outlook on crude oil is predicated on their economic view.

Machinery, Markets

Canada to boost carbon tax rebate for rural areas

Will also pause carbon tax on home heating oil for three years

By Ismail Shakil, Nia Williams October 28, 2023

Ottawa | Reuters — Canadian Prime Minister Justin Trudeau on Thursday announced a three-year carbon tax exemption for home heating oil and higher carbon tax rebates for people in rural […] Read more

NYMEX August 2023 West Texas Intermediate crude oil, with August 2023 Brent crude oil (black line). (Barchart)

Crops, Machinery, Markets

Extent of Saudi oil production cut unclear

Reported tensions within OPEC limit price gains

By Glen Hallick June 6, 2023

MarketsFarm — At the OPEC+ meeting Sunday in Vienna, Saudi Arabia announced it will cut its oil production by one million barrels per day (BPD) come July. And while that […] Read more

Crops

Oil content of Canada’s canola well below average in 2021

By MarketsFarm March 16, 2022

MarketsFarm — The average oil content of Canada’s canola crop came in well below normal in 2021-22, according to the final quality report for the year from the Canadian Grain […] Read more

People queue up outside a public supermarket’s doors in Ciudad Bolivar, Venezuela, in April 2015. (iStock/Getty Images)

Crops

World Food Programme starts distributing food in Venezuela

By Reuters July 8, 2021

Reuters — The U.N. World Food Programme (WFP) said Wednesday it had begun distributing school meals to children in Venezuela, where some seven million people require humanitarian assistance after years […] Read more

Crops, Machinery

U.S. oil industry seeks unusual alliance with Farm Belt against electric vehicle agenda

'We weren't born yesterday'

By Jarrett Renshaw, Stephanie Kelly January 29, 2021

New York | Reuters — The U.S. oil industry is seeking to forge an alliance with the nation’s corn growers and biofuel producers to lobby against the Biden administration’s push […] Read more

The Big River Resources ethanol plant at West Burlington, Iowa, about 120 km southwest of Davenport. (Steven Vaughn photo courtesy ARS/USDA)

Crops, Machinery, Markets

Trump administration mulls industry-wide biofuel waiver

Comment period would end after Trump's exit

By Stephanie Kelly January 15, 2021

New York | Reuters — The Trump administration is considering requests from the oil refining industry and its backers for a sweeping nationwide waiver to exempt them from their obligations […] Read more

Crops

U.S. Supreme Court agrees to hear biofuel waiver case

By Reuters January 11, 2021

Reuters — The U.S. Supreme Court on Friday agreed to review a lower court ruling that severely limited the government’s powers to exempt small refineries from the nation’s biofuels law, […] Read more

Canola seed, oil and meal. (Photo courtesy Canola Council of Canada)

Crops, Markets

October crush numbers up, canola record set

By MarketsFarm Team November 25, 2020

MarketsFarm — Canadian oilseed processors crushed a record amount of canola during October 2020, according to the latest data from Statistics Canada. Increases were reported throughout the canola and soybean […] Read more

A view of Anchorage, Alaska from Cook Inlet. (RobsonAbbott/iStock/Getty Images)

Crops

Trump issues permit for Alaska-to-Alberta railway

By GFM Staff, Reuters September 30, 2020

Washington | Reuters — U.S. President Donald Trump has issued a presidential permit for a private-sector proposal to build a railway from northeastern Alberta’s oil sands to ports in Alaska, […] Read more