Oil prices jumped Monday after OPEC and allied oil producing countries stayed with their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. Analyst Jeremy McCrea of Raymond James expects improving prices will see hiring pick up in the Canadian oil and gas sector. "This is really a moment where a lot of these Canadian producers are doing well in the current market." As oil prices increased this summer, Canadians also paid more at the pump. (Christopher Katsarov/The Canadian Press)However, there is concern about how rising oil prices might impact global economic recovery.

Source: CBC News October 04, 2021 17:09 UTC