Newspaper article The Canadian Press

Alberta to Ease Oil Production Cut Again, Cites Lower Storage Levels

Newspaper article The Canadian Press

Alberta to Ease Oil Production Cut Again, Cites Lower Storage Levels

Article excerpt

Alberta to ease oil production cut again

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EDMONTON - Premier Rachel Notley says Alberta will again ease mandatory oil production cuts due to lower storage levels.

The province says it will allow increased production by 25,000 barrels per day in April.

This will be the second increase since December when the government ordered production of raw crude oil and bitumen to be cut by 325,000 barrels per day to deal with low prices.

The first increase was on Jan. 30 when Notley announced the province would allow increased production by 75,000 barrels per day.

The government says oil storage levels are trending downward and the price difference between Alberta heavy oil and West Texas Intermediate remains narrow.

The province also says warmer weather in spring could mean less diluent will be needed in pipelines, which helps oil flow easier. …

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