According to Net Energy Exchange, the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate was about US$8.25 per barrel on Wednesday. Continue reading
Crude oil prices in Western Canada remained elevated on Wednesday, the day after provincially mandated oil production curtailments came into force, but a government spokesman says it’s too early to say how long the program will remain in place. Continue reading
Oil and gas producer Whitecap Resources Inc. said Tuesday it will choke back spending in the first half of 2019 in view of recent volatility in world and western Canadian oil prices, despite the resulting reduction in average production for the year. Continue reading
A panel of experts says it’s unlikely a dramatic improvement in western Canadian oil prices since Premier Notley announced production curtailments will continue after Jan. 1. Continue reading
Oil production cuts will have the desired outcome of reducing steep discounts on Alberta oil — but it will also create winners and losers, according to financial analysts. Continue reading
Alberta needs to buy as many as 7,000 rail cars if it wants to be able to meet its goal of shipping an additional 120,000 barrels of oil a day, says Premier Rachel Notley. Continue reading
Alberta Premier Rachel Notley has appointed three experts to work with the energy industry to find ways to close an oil price gap that is costing Canada tens of millions a day. Continue reading
Oilsands and refining giants Suncor Energy Inc. and Husky Energy Inc. are rejecting a call by rival Cenovus Energy Inc. for government-imposed production cuts to reduce an oversupply of oil in Alberta linked to steep price discounts. Continue reading
Discounts on Canadian crude oil widened to multi-year highs on Wednesday as oil and gas executives took turns at a conference pointing out Canada’s competitiveness gap in attracting energy investors. Continue reading
Rising oil prices that encouraged more spending by small and intermediate oil and gas companies in Western Canada in the first six months of 2018 are expected to lead drilling budgets to grow even further this fall. Continue reading