West Texas Intermediate

About 370 jobs have been cut at Husky Energy Inc. this year with most of the reductions coming in a major round of layoffs in October, CEO Rob Peabody revealed on a conference call on Monday, December 2, 2019, to discuss guidance for 2020 and 2021.

Growth in oilsands production over the next 20 years is expected to be slower than previously forecast, despite falling project construction costs, according to a study update by the Canadian Energy Research Institute.

Imperial Oil Ltd. has slowed the development of a $2.6-billion oilsands project because of uncertainty due to the Alberta government's oil production curtailment program and other challenges.

Pengrowth Energy Corp. has launched a strategic review of options that could include the sale of the company after failing to renegotiate its high debt load amid plunging western Canadian oil prices late last year.

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

A lack of pipelines isn't the only thing that has been choking Alberta's oilpatch, Canada's energy regulator says. The National Energy Board (NEB) has released a report that clarifies what has plagued companies in the oil-rich province over the past year.

Cenovus Energy Inc. says it will consider slowing development of a 50,000-barrel-per-day oilsands expansion project that it started building early last year if there isn't meaningful progress on increasing pipeline capacity out of Alberta.

Consumer demand for fuel is growing slightly after a sudden decline due to measures to deal with the COVID-19 pandemic but the CEO of Suncor Energy Inc. says he doesn't expect a full recovery for his company or the Canadian energy sector until at least 2022.

Oil prices haven't been this high in the last seven years