Oil Market News Directory

G7 Calls for Low-Carbon Footing from Energy Sectors by 2050, Harper Agrees

The Financial Post reported that Prime Minister Stephen Harper said that Canada's energy sector will be required transform itself to lower greenhouse gas emissions in the long term following a G7 summit that called on members to put their energy sectors on a low-carbon footing by 2050.

Saudi Arabia Raises Benchmark Crude Oil Price to Asia

Reuters reported that Saudi Arabia has raised its official selling price for benchmark Arab Light to Asia next month in response to increased demand for its crude there and because of higher consumption at home during the hot summer months.