3-24-20 Coronavirus and Saudi-Russia tiff effects continue to affect North American energy price/supply/demand
Canada Oil production cuts in Western Canada are imminent , Western Canada’s oil production will need to be cut by about 11% from April, or 440,000 b/d, due to the global oversupply created by the Covid-19 virus and ongoing oil price, said Rystad Energy. Suncor Energy cuts 2020 capital by $1.5 billion Suncor has cut its 2020 capital program by $1.5 billion (Can.), or 26% compared to the original guidance midpoint, to $3.9-4.5 billion (Can.), in response to the decline in the crude oil price and uncertainty of the economic [...]