Economy 53,073 Posted December 3, 2018 Share Posted December 3, 2018 https://www.bnnbloomberg.ca/alberta-premier-notley-imposes-oil-production-cuts-for-province-1.1176933 The province of Alberta is putting in a mandatory 375,000 barrel a day production cut as of January 2019 to fix the pipeline bottleneck lack of transportation capacity that is causing Canadian oil to sell at huge discounts as low as $13/barrel in November While reluctant at first as some oil fields and machinery that are meant to run at higher capacity could have problems, it was decided the extremely low price was an even bigger threat to the industry CORRECTION: 325,000 barrels a day Link to post Share on other sites More sharing options...
Economy 53,073 Posted December 3, 2018 Author Share Posted December 3, 2018 @Woolfsmck more pipelines woulda been preferable but a short term solution is made!!! Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted December 3, 2018 Share Posted December 3, 2018 Russia and Saudi Arabia need to lower output too like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,073 Posted December 3, 2018 Author Share Posted December 3, 2018 4 hours ago, Woolfsmck said: Russia and Saudi Arabia need to lower output too That would certainly help world prices overall What Canada is doing has more to do with prices for the oil in our biggest benchmark (Western Canada Select) It's up 50% today Jesus Christ, they shoulda done this sooner Link to post Share on other sites More sharing options...
Woolfsmck 2,763 Posted December 3, 2018 Share Posted December 3, 2018 1 hour ago, Economy said: That would certainly help world prices overall What Canada is doing has more to do with prices for the oil in our biggest benchmark (Western Canada Select) It's up 50% today Jesus Christ, they shoulda done this sooner I think Trump and XI making nice I'm trade talks has investors willing to 'bull market' again...that what financial news is saying anyway. like a cat in a sil, I observe life, moving and still. My words give a clue,look inside to see whats true Link to post Share on other sites More sharing options...
Economy 53,073 Posted December 3, 2018 Author Share Posted December 3, 2018 21 minutes ago, Woolfsmck said: I think Trump and XI making nice I'm trade talks has investors willing to 'bull market' again...that what financial news is saying anyway. It is for sure But in Canada's case I think WCS Canadian oil going up 50% had more to do with this cut cuz other benchmarks were up only like 5% Link to post Share on other sites More sharing options...
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