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OPEC likely to keep oil prices low amid signs strategy is working

By Grant Smith

OPEC will stick with the strategy of favouring market share over prices when it meets next month because rival producers are already starting to buckle. 480 more words

Energy

Heavy oil stockpiles in Alberta at lowest level since October, as WTI discount narrows

By Robert Tuttle

Buyers of Canadian heavy crude who need the commodity right away are paying a widening premium as inventories plunge.

Heavy Western Canadian Select for May delivery sold for $49.02 a barrel, $2.49 more than for delivery in August, data compiled by Bloomberg show. 356 more words

Energy

NDP promises to ban gas drilling in urban areas

As the energy industry braces for a royalty review and other policy changes from the incoming provincial government, the NDP plan to put an end to urban drilling for natural gas is being watched closely by the oilpatch and municipal officials. 658 more words

Politics

Oilsands industry searching for ways to adapt to lower crude prices

By Greg Quinn and Jeremy van Loon

Alberta’s oilsands industry, Canada’s growth engine for a decade, is looking for ways to right itself as the crude-price shock forces massive spending cuts needed to avoid the fate of the nation’s battered auto sector. 1,147 more words

Energy

Alberta increases crude oil output to U.S. Midwest

Canadian heavy crude’s biggest rally in five years is set to reverse as new oilsands projects increase production during the second half of the year. 314 more words

Oilsands land prices reach highest level in eight years amid crude rebound

By Robert Tuttle

An indication that crude’s recent rally has further to run can be found in the northern forests of Alberta, where companies are paying the most in eight years to lease land for oilsands development. 743 more words

Energy

U.S. oil production is declining at a faster pace

Investors looking for a bullish case for oil will likely be pleased to hear that the downtrend in U.S. oil production is accelerating.

A new forecast from the U.S. 173 more words

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