12-03-2018, 09:40 AM
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#28
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RS has made me the bitter person i am today!
Join Date: Oct 2006
Location: van
Posts: 4,530
Thanked 1,170 Times in 625 Posts
Failed 286 Times in 153 Posts
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https://www.google.ca/amp/s/business...yrocketing/amp
Quote:
Boosted by Premier Rachel Notley’s announcement that Alberta would be cutting crude production by 325,000 barrels per day, Canadian oil prices rallied after reaching historic lows in November.
Notley said on Sunday that Alberta would be cutting crude production beginning in January in an attempt to deal with the massive oversupply that led to Canadian oil being traded at an historic low of US$13.27 in mid-November. Executives of upstream oil companies such as Cenovus Energy and Canadian Natural Resources have urged Notley to intervene for weeks, saying that they couldn’t transfer the oil they were producing without sufficient pipeline space, leading to hundreds of thousands of barrels clogging up warehouses and being sold at a discount.
A divided oilpatch reacts as Notley cuts output and industry shares pain
How the oil crisis in Alberta is boosting crude prices around the world
Alberta orders oil producers to cut 325,000 barrels a day to ease crisis
On Monday, Notley’s decision sent Western Canada Select up 50 per cent to trade at US$32.91 as of 10:40 a.m. On Friday, Canadian oil closed at US$21.93.
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__________________
Gold is the money of kings;
Silver is the money of gentlemen;
Barter is the money of peasants;
But debt is the money of slaves.
-Norm Franz
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