23 October

Baker Hughes reported on Friday that the number of oil rigs in the United States rose by 6 to 211. The total number of active oil and gas rigs increased for the week by 5, with oil rigs rising by 6 and gas rigs falling by 1. Total oil and gas rigs in the United […]

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23 October

Credit Suisse says Canadian province of Alberta’s move to end oil production curtailments as of December would allow producers in the country to operate projects at higher rates. CS expects integrated companies Imperial Oil and Suncor to benefit from the removal of curtailment. Both IMO, SU were the most vocal critics of production curtailments; says […]

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23 October

COVID cases are now surging around the globe, threatening oil demand and sending oil prices back below $40. For Global Energy Alert members there are now two new free reports available in your dashboard. The first of these reports is on how to interpret stock charts and the second outlines the three biggest mistakes made […]

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23 October

Grounded WestJet Boeing 737 Max aircraft are shown at the airline’s facilities in Calgary, Alta., Tuesday, May 7, 2019. , THE CANADIAN PRESS/Jeff McIntosh The era of government-mandated curbs on oil production is ending in Alberta. The province announced Friday morning it will unshackle the industry from limits on its output starting in December. The […]

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23 October

Canada’s fleet of active drilling rigs is up 10 this week to 99 according to data from the Canadian Association of Oilwell Drilling Contractors. There are 99 total active drilling rigs, 41 are drilling for natural gas, 44 for oil, and 1 for potash. Drilling activity by province is 60 in Alberta, 20 in Saskatchewan, […]

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23 October

CALGARY – Alberta’s UCP government says it will end oil curtailment quotas in December, nearly two years after the previous NDP government introduced them to support oil prices. The province says it will extend its regulatory authority to continue the program for another year but doesn’t plan to use it after the end of November. […]

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23 October

CALGARY — Energy companies in Alberta will soon be permitted to produce as much as oil as they want as the province will lift curtailment in the coming weeks. According to Alberta’s ministry of energy, the provincial government will no longer set monthly production limits as of December in an effort to "utilize available pipeline […]

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23 October

(Reuters) – Futures for Canada’s main stock index rose on Friday, helped by firmer oil prices, while hopes of progress in talks for fresh U.S. stimulus before the U.S. presidential election further lifted sentiment. Brent crude futures rose 0.57%, while U.S. West Texas Intermediate (WTI) crude futures gained 0.42%. December futures on the S&P/TSX index […]

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22 October

Thick black oil sits on the pipe work fitting of an oil pumping jack, also known as "nodding donkey" in an oilfield near Almetyevsk, Russia, on Sunday, Aug. 16, 2020. Oil fell below $42 a barrel in New York at the start of a week that will see OPEC+ gather to assess its supply deal […]

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22 October

Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response to the crisis caused by the pandemic. “Making the organization more efficient and more nimble will reduce the number of required positions and, unfortunately, reduce […]

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