By Promit Mukherjee OTTAWA (Reuters) -Canada's economy grew at a much faster pace than expected in the third quarter as crude oil exports and government spending boosted economic activity, data showed on Friday,​ even as business investments and household consumption disappointed due to the lingering uncertainty over U.S. tariffs. Third-quarter ‌annualized gross domestic product grew 2.6%, Statistics Canada said, escaping what could have been a technical recession after a contraction in the previous ‌qua ...

Key Takeaways - Diversified Energy Company (DEC) has completed the acquisition of Canvas Energy, enhancing its production capacity and operational scale through the addition of significant assets and acreage in Oklahoma [1][2] Acquisition Details - The acquisition adds approximately 147 million cubic feet equivalent of natural gas per day to DEC's net production, increasing its output by roughly 13% [2] - The purchase price for the assets is around $550 million, valuing them at approximately 3.5 times the expected next-twelve-month EBITDA [2] - DEC gains nearly 1.6 million net acres in Central Oklahoma, which enhances operational overlap and creates new optimization opportunities [2] Financial Structure - To finance the acquisition, DEC utilized a $400 million asset-backed securitization (ABS) structure, supported by Carlyle-managed funds and co-investors [3] - The ABS XI issuance features an investment-grade "A" tranche with a blended coupon of 5.97%, allowing DEC to maintain financial discipline while expanding its asset base [3] Share Issuance - As part of the transaction, DEC issued 3,720,125 new common shares to former Canvas equity holders, bringing the total number of shares outstanding to 80.4 million [4] - Each share carries one vote, resulting in a total of 80.4 million voting rights in the company as of November 24, 2025 [4] Company Overview - DEC is focused on natural gas and liquids production, transport, marketing, and well retirement, currently holding a Zacks Rank 3 (Hold) [5]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Chaay_Tee / iStock via Getty Images Quick Read A very few traders and investors return after the Thanksgiving holiday for a shortened session that will close at 1 PM EST. After a brutal few weeks, the market’s strength heading into month-end is very positive, especially as investors and institutions prepare to square up for the end of the year. With the prospects of the potential for a December rate cut dancing in investors’ heads like sugar plums, Santa Claus and his rally may be on the way. If y ...

Core Viewpoint - Wall Street's top investment banks predict challenging years for the oil industry in 2026 and 2027 following a nearly 20% decline in oil prices in 2023 [1] Price Forecasts - JPMorgan's commodities team forecasts Brent crude oil to fall to $58 per barrel in 2026, with West Texas Intermediate (WTI) trading $4 below this level; prices are expected to decline by another $1 per barrel in 2027 [2] - Goldman Sachs predicts Brent and WTI prices at $56 and $52 per barrel respectively for the next year, with expectations of recovery to $80 and $76 per barrel by 2028, assuming oversupply does not persist [3][4] Supply and Demand Dynamics - The oil market is characterized by oversupply, with global supply continuing to rise despite robust demand; this trend is expected to persist into the next year [5] - OPEC+ has increased output by more than 2 million barrels per day since April, while US shale production is projected to reach record highs in December [6] - Heavy stockpiling by China absorbed much of the excess supply in the first half of 2025, supporting prices [6] Market Conditions - Demand from the Middle East remains stable, and Indian refiners are increasing purchases of Urals crude from Russia; however, over 1 billion barrels are currently stored in tankers globally, marking the highest level since 2023 [7] - The International Energy Agency anticipates a supply glut in 2026, predicting an overhang of 4 million barrels per day [7]

Core Insights - Oil prices are on track for their largest yearly loss since the pandemic, indicating significant market volatility [1] - There is a possibility that oil prices may be near a short-term bottom, which could lead to increased demand and a moderation in global production levels [1]

Saudi Arabia is expected to slash the prices for its crude bound for Asia in January to the lowest premium to benchmarks in five years, as the world’s largest crude exporter looks to preserve market share amid ample supply and falling spot Middle East benchmarks. Saudi oil giant Aramco will likely reduce the official selling price (OSP) of its flagship Arab Light crude grade by $0.30-$0.40 per barrel to a premium of $0.60-$0.70 a barrel to the average Oman/Dubai benchmark for loadings to Asia in January, ...

Core Insights - Oil prices are on track for a fourth consecutive monthly loss due to oversupply concerns and a recent trading halt caused by a data center glitch at CME Group [1][3][4] - WTI Crude futures were trading at $59.08, up by 0.73%, while Brent Crude futures were down by 0.11% at $63.27 before the trading halt [2] - The OPEC+ meeting this weekend is expected to maintain the decision to pause oil production increases in the first quarter of 2026, which may impact future supply dynamics [3][4] Market Dynamics - The trading halt in WTI Crude futures has raised concerns about increased volatility when trading resumes, particularly on the last trading day of November [2] - Analysts from Saxo Bank noted that crude prices are experiencing their steepest monthly losses since 2023, influenced by rising supply from both OPEC+ and non-OPEC+ producers [4] - The sentiment in the market was briefly buoyed by hopes of a Russia-Ukraine peace deal, but this has since diminished, contributing to the current price range for WTI and Brent [4]

Core Insights - North Atlantic France SAS has successfully acquired an 82.89% controlling stake in Esso Société Anonyme Française SA for €26.19 per share and 100% of ExxonMobil Chemical France SAS, marking a significant expansion in the French energy sector [1][4] - The acquisition has received all necessary regulatory approvals, including French foreign direct investment authorization and EU Foreign Subsidies Regulation clearance, allowing for the rebranding of Esso S.A.F. to North Atlantic Energies [2][4] - North Atlantic aims to invest long-term in France, supporting the energy transition and enhancing the Gravenchon site as a world-class industrial platform [2][4] Acquisition Details - The acquisition price for Esso S.A.F. was set at €26.19 per share, with a subsequent simplified tender offer planned for the remaining shares at €28.93 per share [1][3][4] - North Atlantic France intends to implement a squeeze-out procedure if conditions are met after the tender offer [5] Future Plans - North Atlantic Energies will maintain high standards of product quality and service while continuing collaboration with ExxonMobil under long-term supply and technology agreements [2][4] - The company is committed to strategic growth and innovation in energy solutions, aiming to create new jobs and skills in the evolving energy landscape [8]

Brazil’s energy major Petrobras has revised its spending plans for the next five years, prompted by the steady and persistent decline in oil prices. The company now plans to spend 2% less than previously expected over the period between 2026 and 2030. Petrobras will also pay less dividend, Reuters reported, citing the company’s update. Ordinary dividends for the five-year period to 2030 are now seen at between $45 billion and $50 billion, down from a maximum of $55 billion earlier. The update did not incl ...