Jason Kenney told reporters Tuesday there will be a supply crunch once global demand recovers after the COVID-19 pandemic and Alberta 'will be there.'

Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Monday.

Analysts say a rebound in oil prices as consumer demand for gasoline rises will buoy energy companies as they give quarterly results starting next week.

The curbed output represents some 10 per cent of the world's overall supply.

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.

The prime minister will hopefully continue to ignore those who claim the oil and gas industry is dead, Rob Breakenridge says.

A GasBuddy.com analyst says the rebound in gas prices should get back to around a dollar a litre in Saskatchewan this summer.

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.

As oil prices dropped to unprecedented negative levels Monday, experts say it's the result of an oversupply problem due to COVID-19 stay-at-home orders.

The Middle East, already wracked by high numbers of unemployed youth, unrest, conflict and large numbers of refugees, will sink into a recession this year sparked by the double shock of the coronavirus outbreak and low oil prices, the International Monetary Fund said Wednesday.