The federal government announced a memorandum of understanding (MOU) with China to explore further opportunities in oil & gas, nuclear and clean technology. The MOU recognizes Canada as an important partner in providing oil, LNG and LPG supply.

Shell and Mitsubishi are exploring options to divest their respective stakes in the LNG Canada project.

According to OPEC, global oil demand is forecasted to rise at a similar pace in 2027 as in 2026 with a near balance between supply and demand. OPEC expects oil demand to rise by 1.34MM bpd in 2027, similar to the 1.38MM bpd forecasted for 2026.

According to Statistics Canada, Canadian annual inflation in December 2025 was 2.4% (an increase from 2.2% in November 2025). Despite the year over year increase, the cost of gasoline fell by 13.8% due to an oversupply of global crude oil. The Bank of Canada will make an interest rate decision next week.