• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Coincidence of EIA Report Delay? - "I had seen it delayed minutes, and a couple of times a few hours, but don’t recall something like this — do others?" asks Javier Blas
  • 2 days European Parliament Members, Cristian Terhes et al, push back against Totalitarian Digital ID and Carbon Tyranny in Europe.
  • 23 hours "How Long Will The Epic Rally In Energy Stocks Last?" by Tsvetana Paraskova at OILPRICE.COM
  • 4 days "...too many politicians believe things that aren’t true." says Robert Rapier
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days Demonising fossil fuels has caused major grid problem in Australia
  • 4 days Welcome to Technocracy - The New World Energy Order... "1000s Of Sydney Homes Plunged Into Darkness As Aussie 'Price Cap' Policy Sparks Energy Shortage"
  • 6 days "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 331 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 8 days ESG Topic - "German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing" - ZeroHedge Bloomberg and others
Is It Too Late To Invest In The Oil Price Rally?

Is It Too Late To Invest In The Oil Price Rally?

Many analysts say that the…

Libya Oil Production Plunges Amid Field Closures

Libya Oil Production Plunges Amid Field Closures

Libya is producing only about…

API Offers 10-Point Plan To Unleash Energy, Fuel Recovery

API Offers 10-Point Plan To Unleash Energy, Fuel Recovery

The American Petroleum Institute has…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Canadian Oil Prices Under Pressure As Alberta Eases Production Cuts

Alberta’s government will allow oil producers to pump 3.8 million bpd of crude in November and 3.81 million bpd in December, Reuters reports. That’s up from 3.79 million bpd in October and 3.56 million bpd in January this year, when the curtailments entered into effect.

First announced by former NDP Premier Rachel Notley last December, the production cuts came in response to a slump in Canadian oil prices that at one point exceeded $50 per barrel compared to West Texas Intermediate.

Although opposed by some in the industry, the cuts did their job and Canadian crude rebounded quickly. Currently, Western Canadian Select trades at a discount of about $12 per barrel to WTI.

Even so, the problems that have plagued Alberta’s oil industry for years have not been solved. Pipeline capacity continues to be tight as opponents challenge new projects in courts. Some good news for Canadian oil came last month, when the federal government announced the resumption of work on the controversial Trans Mountain oil pipeline expansion. Despite continued opposition from British Columbia, Ottawa said the pipeline should be in service in 2022 at a daily capacity of 590,000 barrels.

Some more good news came from Nebraska, where a court finally approved the alternative route for the Keystone XL pipeline—a project even more controversial than Trans Mountain.

It is far from certain that either of these pipelines will indeed be completed anytime soon, and there is more trouble on the way. Beginning in January 2020, the International Maritime Organization will enforce new, stricter, sulphur emission rules. This means Canada’s heavy crude, with an average sulphur content of 3.5 percent, would fall out of favour as a shipping fuel to the benefit of lighter, sweeter grades such as West Texas Intermediate, whose average sulphur content is about 0.5 percent, the same as IMO’s new maximum allowable amount.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News