But oil prices were already shooting up before the war began. (Jason Franson/The Canadian Press)During the pandemic, oil companies everywhere slowed production dramatically as cars, trucks and airplanes all sat idle for months at a time. (Chris Ratcliffe/Bloomberg)Even as demand increased, oil companies were wary of spending money to boost supply. Sure, oil companies are making record profits with the cost per barrel hovering around $110 US. It would really help if oil prices broke," he said.

Source: CBC News June 18, 2022 18:30 UTC