Canadian unconventional oil production will keep rising
While conventional oil sees cuts, Alberta's output will keep rising - for now
Across the US unconventional oil sector, the steep fall in rig counts suggests that Saudi oil minister Ali Naimi's strategy to force what he calls 'inefficient' producers offline will soon yield fruit. In Canada, the picture is more complex. As in the US, rigs targeting tight oil in Alberta, British Columbia and Saskatchewan's section of the Bakken shale are coming off line and companies are scaling back drilling plans - a reaction to the collapsing price of WTI, which as Petroleum Economist went to press was trading just above $43 a barrel and threatening to fall farther. The Canadian Association of Petroleum Producers (Capp) predicts conventional output from the Western Canada Sedimentary
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