Crude by rail shipments from Western Canada rise by 34,000 bpd in May
Genscape says crude-by-rail shipments from Western Canada continued to rise in May after falling in February to a nine-month low. Continue reading
West Texas Intermediate
Calgary’s economic outlook fueled by rising crude prices, migration, infrastructure investments
Calgary’s economic outlook has reason for hope, including improving crude prices, increased net migration and infrastructure investments. Continue reading
Lower price discounts to boost Q1 oil profits but sector still faces uncertainty
Lower discounts on western Canadian oil prices have swollen producer coffers in the first three months of the year, but analysts say they don’t expect to see big increases in drilling budgets as companies report results over the coming weeks. Continue reading
Crude by rail rises in March but storage high despite Alberta curtailments
Crude-by-rail shipments from Western Canada staged a minor recovery in March after falling in February to their lowest level in nine months, but oil storage levels remain stubbornly high. Continue reading
Alberta oil production cap remains unchanged despite price recovery
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
Western Canada oil prices remain strong as Alberta production cap kicks in
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
Calgary-based energy firm Whitecap Resources unveils cautious $450M capital budget
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
Western oil price rally unlikely to last after curtailments begin: expert panel
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
Who are the winners and losers from the Alberta oil production cut?
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
Rachel Notley says Alberta is ‘essentially giving oil away for free’ in Toronto speech
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