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Oil heads to first weekly loss since April on OPEC+ supply hike prospect

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Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July. Brent futures fell 31 cents, or 0.5%, to $64.13 a barrel by 0412 GMT. U.S. West Texas Intermediate crude futures lost 33 cents, or 0.5%, to $60.87. For the week, Brent has fallen 1.9%, and WTI has dropped 2.5%, following two weeks of gains. Both contracts touched their lowest in [Read more]

Western premiers agree to develop new economic corridors, call for federal support

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YELLOWKNIFE - Canada's western premiers say they've agreed to identify, plan and develop new economic corridors to connect provincial resources to international markets. A joint statement issued Thursday says doing so would boost Canada's market access in Asia and Europe while the country fights a trade war with the United States and China. "Nation-building infrastructure in Western Canada, such as highways, railways, ports, airports, pipelines, nuclear projects and electricity [Read more]

Journey Energy Inc. Reports on Voting from the 2025 Annual Shareholders Meeting

Calgary, Alberta--(Newsfile Corp. - May 22, 2025) - Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) ("Journey", or the "Company") announces the voting results from its Annual General Meeting (the "Meeting") held today pursuant to Section 11.3 of National Instrument 51-102 - Continuous Disclosure Obligations. Journey is pleased to report that all resolutions were approved by the shareholders and the details of the voting results are contained below. 1. Fixing the Number of Directors to be [Read more]

Prairie Provident Reports on AGM Voting Results

CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX:PPR) announces voting results from its annual and special shareholders' meeting held today (the “Meeting”). A total of 1,216,965,050 common shares, representing approximately 86.8% of the Company’s issued and outstanding common shares, were represented in person or by proxy at the Meeting. All of the matters put forward to the shareholders, as set out in the [Read more]

Petrus Announces Results of Annual General Meeting of Shareholders

CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) is pleased to announce that its shareholders approved all resolutions at its annual general meeting of shareholders held yesterday (the "Meeting"). The resolutions approved at the Meeting were as follows: The resolution to fix the number of directors of the Company to be elected at the Meeting at five (5) directors was approved. The resolution to appoint the five (5) nominees as [Read more]

US crude oil storage demand surges as traders brace for OPEC+ price war

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U.S. crude oil storage demand has surged in recent weeks to levels similar to the COVID-19 pandemic, according to data from storage broker The Tank Tiger, as traders brace for a flood of increased supply in coming months from the Organization of the Petroleum Exporting Countries and its allies. This month, OPEC+ agreed to accelerate oil output hikes for a second consecutive month in June as the group looks to punish over-producing members. OPEC leaders are also contemplating a similar increase [Read more]

Freehold Royalties Announces TSX Approval for Normal Course Issuer Bid

CALGARY, Alberta, May 22, 2025 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. ("Freehold" or the "Company") (TSX – FRU) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Freehold's notice of intention to commence a normal course issuer bid (the "NCIB"). Under the NCIB, Freehold may purchase up to 13,699,733 common shares (the "Shares") (representing approximately 10 percent of the Company's 163,960,334 issued and outstanding Shares as of May 14, 2025 less Shares [Read more]

Saturn Oil & Gas Inc. Announces Voting Results of AGM

Calgary, Alberta--(Newsfile Corp. - May 22, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of our assets in Saskatchewan and Alberta, is pleased to announce the voting results of our Annual General Meeting of shareholders (the "Meeting") held on May 22, 2025. Saturn is pleased to report that that all matters presented at the Meeting were approved. A total of 145,965,898 [Read more]

Canada’s Champagne says G7 ministers not ‘skating around’ tariff issue

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Canada's Finance Minister François-Philippe Champagne said on Thursday that the discussions on tariffs did come up during a G7 finance leaders' meeting, even though there was mention of them in the final communique that was published. "They are not skating around the fact that tariffs are an issue," Champagne, who is also the chair of the G7 finance leaders, told reporters in a news briefing at the end of the meeting. U.S. President Donald Trump's barrage of tariffs on Canada and other G7 [Read more]

US ‘not convinced’ about lowering G7 oil price cap, European official says

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A European official said the United States was "not convinced" about lowering the Group of Seven nations (G7) price cap on Russian crude oil. The EU proposed revising the cap down to an indicative level of $50 a barrel from the current $60 a barrel. During the G7 finance ministers meeting, the official said the U.S. position was that oil prices were already falling and hurting Russia. However, the official added the U.S. remained open to the idea and discussions would continue. The U.S. [Read more]