Cut will remove 375 MBOPD, or 8.7%
OPEC isn’t the only group planning an oil production cut for 2019.

Alberta Premier Rachel Notley announced temporary production cuts on Sunday as part of an effort to shore up pricing for ailing oil producers in her province. Canadian producers are grappling with punishing differentials, with the WCS-WTI differential reaching a staggering $50/bbl in mid-October. Additional pipelines are being blocked by recent court actions, meaning serious relief may not arrive until late next year.

Source: EnerCom Analytics

While the Alberta government is working to buy rail cars to ship additional crude oil, these will not be immediately available. To relieve the current storage glut and bridge the gap until a...

Legal Notice