The CEO of Imperial Oil Ltd. says rising COVID-19 infection numbers have stalled a recovery in demand for vehicle fuels produced in its Canadian refineries from the depths of the pandemic lockdowns in March and April.

The CEO of Suncor Energy Inc. says the Alberta government's decision to end its oil production curtailment program in December after almost two years is "a very positive signal" for the oilsands and refining giant.

The Canada Energy Regulator says most, but not all, western Canadian oil production has been restored after being cut because of low prices amid the COVID-19 pandemic.

Shell now wants to focus its oil and gas production on a few key hubs, including the Gulf of Mexico, Nigeria and the North Sea, the sources said.

Crescent Point Energy Corp. raised its production guidance for the year as it said it restarted production that was shut in when energy prices crashed due to the pandemic.

Suncor CEO Mark Little says he won't "bet the financial health'' of the company on the nascent recovery, listing a host of risks including the possibility of a second wave of virus outbreaks.

Western Canadian producers are moving to restore some oil production as crude prices rise with demand thanks to the gradual opening of the world economy and OPEC and Russian output cuts.

Calgary-based energy companies are continuing to reduce production, cut spending and trim costs as volatile oil prices remain stubbornly below profitable levels.

Calgary-based Keyera Corp. is moving ahead with a plan to close and dismantle four central Alberta gas processing plants over the next two years.

OPEC+ said it had agreed to reduce oil output by 9.7 million barrels per day (bpd) for May-June.