Cenovus says it is cutting its capital spending plan for this year by 32 per cent due to the recent plunge in world oil prices.

Sales for oil and gas drilling rights in Saskatchewan reach lowest level in nearly 25 years.

The Opposition NDP says federal money should not be used to help clean up oil wells in Saskatchewan because there are more important infrastructure projects to be done.

Asian stock markets sank Tuesday, led by a plunge in the Shanghai index, after a renewed slump in the price of oil kept investors on edge about the global economy.