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Alberta’s oil limits finally seem to be working

Alberta’s oil limits finally seem to be working

Alberta’s oil production curbs finally appear to be draining inventories, at least for now. The Alberta government’s move to cut corporate taxes from 12 to eight per cent. Alberta premier Jason Kenney offered his thoughts on the differing views between him and B.C. premier. Canada’s largest oil producers are calling on the Alberta government to...

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Alberta’s Premier has mandated short-term reduction in oil production

Alberta’s Premier has mandated short-term reduction in oil production

Premier Rachel Notley is ordering a mandatory cut to oil production to deal with a price crisis she says threatens to gut Alberta’s bedrock industry. The price gap is caused by the federal government’s decades-long inability to build pipelines. Notley announced the province will impose across-the-board cuts amounting to 8.7 per cent of output to...

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Oil halts record losing streak as Saudis advocate supply cuts

Oil halts record losing streak as Saudis advocate supply cuts

Oil prices fell nearly 1 percent on Friday as global supply increased and investors worried demand growth could slow, pressuring U.S. crude to its longest stretch of daily declines since 1984. Crude futures benchmarks have slid about 20 percent or more since peaking in early October. Oil climbed the most in 2 1/2 weeks, halting...