Oil Production

• Cenovus Energy to boost oil production in 2023

  Cenovus Energy Inc. said total offshore oil production is expected to be in a range of 65,000 to 78,000 barrels of oil equivalent per day.

  Economy

  Dec 6, 2022
  
• Biden to release 15M barrels from U.S. strategic oil reserve after OPEC+ cuts

  Biden will deliver remarks Wednesday to announce the drawdown from the strategic reserve, senior administration officials said Tuesday.

  World

  Oct 18, 2022
  
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• Biden warns Saudi Arabia of ‘consequences’ after OPEC+ cuts oil production

  Biden suggested he would soon take action, as aides announced that the administration is reevaluating its relationship with the kingdom in light of the oil production cut.

  World

  Oct 12, 2022
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• Biden re-thinking U.S.-Saudi relationship after OPEC+ cuts oil production: White House

  U.S. President Joe Biden was disappointed in the OPEC+ decision to cut global oil production and is rethinking the country's relationship with Saudi Arabia as a result.

  Economy

  Oct 11, 2022
• Limits on oil production no longer needed, Alberta government says

  Alberta will let its oil production curtailment policy expire on Dec. 31.

  Canada

  Dec 9, 2021
• Despite record-setting output, Alberta oilpatch keeps lid on spending

  Statistics Canada says oil and gas capital spending over the first three quarters of 2021 was 32 per cent below pre-pandemic levels.

  Economy

  Dec 2, 2021
• MEG Energy again increases annual production guidance after 3rd quarter results

  MEG Energy Corp. boosted its output forecast for the year after swinging to a $54-million profit in its latest quarter on a doubling of revenues.

  Money

  Nov 8, 2021
• OPEC oil alliance at impasse over production levels

  Talks among members of the OPEC cartel and allied oil-producing countries broke off Monday in the midst of a standoff with the United Arab Emirates over production levels.

  World

  Jul 5, 2021
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• Saskatchewan faces uncertainty as battle over the future of Line 5 heats up

  Saskatchewan transports 70 per cent of its oil from the mainline, which connects to Enbridge's Line 5 pipeline.

  Canada

  May 12, 2021
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• Suncor increases spending, oil production guidance for 2021

  Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.

  Economy

  Dec 1, 2020