Alberta shelves crude curtailments
The province’s decision to unwind restrictions hopes for better days ahead. But economics may be against it
The Albertan government will suspend its almost two-year-old crude curtailment programme as of December but include a one-year regulatory extension to the end of 2021 to allow the province to again restrict production if need be. But, with the economics against oil sands production, inserting this caveat may be optimistic. Oil companies in the Canadian province have been producing substantially below mandated levels of 3.81mn bl/d since the Covid-19 pandemic threw a wrench into the global economy earlier this year. By suspending crude quotas, Edmonton is hoping to improve investor confidence and boost capital spending from the dismal levels seen over the past five years, ultimately kick-star
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