Headlines

Expand Energy on Wednesday called for increasing production at Haynesville and said the Permian basin will be unable to meet rising demand for US natural gas. Shale gas deposits in the Haynesville region in Texas and Louisiana have drawn producer interest in recent times, along with its more well-known neighbor — the Permian basin in west Texas and New Mexico. Expand, along with peers EQT and Range Resources, is looking at a second straight year of record natgas production to boost exports [Read more]

OTTAWA - The Bank of Canada raised its benchmark interest rate for the first time in more than three years on Wednesday as it warned higher costs from the war in the Middle East are likely to spread. The central bank’s policy rate now stands at 2.5 per cent following a quarter-point hike. That key rate, which influences the cost of borrowing for banks, businesses and consumers alike, had held steady for nearly a year following a series of cuts. The Bank of Canada spent much of 2026 [Read more]

By Andrew Mills Oct 28 - The closed-door diplomacy meant to end the war is doing little to calm the Gulf, where tensions and rhetoric are sharpening. Donald Trump says the US may strike Iran again, and Iranian security officials say Tehran has plans to hit back. We get only small glimpses of what is said in Tehran and Washington, and this week's did not offer much clarity. Qatari mediators brought Tehran a new draft deal on Sunday. By Wednesday, a senior Iranian official had dismissed what [Read more]

Top oilfield services companies are counting on a recovery in Middle East activity after months of disruptions to support growth next year, but rising operating costs and renewed flare-ups are tempering the near-term outlook. SLB, Halliburton and Baker Hughes all reported sequential revenue growth in parts of their Middle East businesses in the third quarter, as activity rebounded from conflict-related interruptions. Still, year-on-year metrics and company forecasts indicate that activity [Read more]

OTTAWA - The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent on Wednesday. Here is the text of the central bank's decision: ——— The Bank of Canada today increased its target for the overnight rate by 25 basis points to 2.5 per cent, with the Bank Rate at 2.75 per cent and the deposit rate at 2.45 per cent. Since the July Monetary Policy Report, global economic activity has remained resilient, despite higher energy prices. In the United States, the [Read more]