04 December

The chief executive of Cenovus Energy Inc said on Monday that he expects the company to invest some C$1.5 billion ($1.1 billion) in 2019, in line with 2018 capital spending, after the Alberta government’s mandated oil output cuts boosted Canadian crude prices. "My company will have a capital program that looks pretty similar to the […]

Read More
04 December

WINNIPEG – Federal Conservative Leader Andrew Scheer says Alberta’s decision to order a cut in oil production is a direct result of Prime Minister Justin Trudeau’s failure to get Canadian energy to market. Scheer says there were three pipeline projects in the works when Trudeau became prime minister, and none have come to fruition. He […]

Read More
04 December

Imperial Oil President and CEO Rich Kruger Canada’s Imperial Oil Ltd’s Chief Executive said the company disagrees with the Alberta government’s decision to order mandatory production cuts, saying it introduces trade risks and sends a negative message to investors. “This intervention appears not to recognize the investment decisions companies have made to access higher value […]

Read More
04 December

Canadian oil prices surged to a four-month high on Monday, a day after Alberta said it would mandate temporary production cuts that some producers had requested after pipeline bottlenecks forced their oil to be sold at severe discounts. Alberta Premier Rachel Notley said Sunday the government will force producers to cut output by 8.7 percent, […]

Read More
04 December

Canada’s Natural Resources Minister Amarjeet Sohi OTTAWA – Natural Resources Minister Amarjeet Sohi is asking the National Energy Board to make sure Canada’s oil pipelines are being used as efficiently as possible. The market price for Alberta oil is rebounding today, a day after Premier Rachel Notley announced plans to cut production by almost nine […]

Read More
04 December

A truce in the U.S.-China trade war boosted global stocks to their highest in roughly three weeks on Monday, while sending the U.S. dollar lower and the Chinese yuan and several trade-dependent currencies higher. The rally in equities follows an agreement between Washington and Beijing at the G20 summit in Argentina on Saturday that calls […]

Read More
03 December

BP p.l.c. ( BP ) is set to open higher Monday morning as oil prices are up sharply. Oil participants have bid up the price of crude in the wake of Canada’s largest oil producing province ordering an unprecedented output cut. Facing a pipeline bottleneck and glut of oil in storage, Alberta will make producers […]

Read More
03 December

BNN Bloomberg’s mid-morning market update: Dec. 3, 2018 Markets Give U.S. Most to Gain in China Trade Truce, UBS’s Donova… Stocks jumped on Monday after the U.S. and China declared a truce in their trade war, while Treasuries and the dollar fell. Oil surged on optimism producers will cut output. The Dow, Nasdaq and S&P […]

Read More
03 December

Oil rebounded from the biggest monthly loss in a decade after Russia and Saudi Arabia agreed to extend their deal to manage the oil market into 2019 and Canada’s largest oil producing province ordered an unprecedented output cut. Brent rose as much as 5.3 per cent in London, after prices collapsed more than 20 per […]

Read More
03 December

Alberta will cut oil production by 8.7 per cent starting in January in an effort to reduce the punishing price differential plaguing energy producers, says Premier Rachel Notley. “We must act immediately, and we must do it together,” she said in a speech Sunday at the Federal Building. About 25 producers are expected to face […]

Read More