Crude curtailment boosts Albertan producers' profits
Higher prices more than offset Western Canada restrictions on production
Canadian independents Cenovus Energy and Canadian Natural Resources Limited (CNRL) have won big since Alberta's crude curtailment programme began in January, with both posting strong second quarter profits. Executives from the two firms were among the loudest voices lobbying the Alberta government to adopt a crude curtailment programme last autumn, after Western Canadian oil prices fell through the floor. Western Canadian Select dropped from a peak above $55 in May to a trough below $13 in November—due to a lack of route-to-market capacity from the region. CNRL wanted higher crude prices so it would have the cashflow to continue purchasing oil sands assets, available at bargain-basement pric
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
