Why Isn't Canada Cutting Oil Production?

Why Isn't Canada Cutting Oil Production?

Why Isn’t Canada Cutting Oil Production? Canada’s oil sands giants, Suncor and Imperial Oil, have become North America’s lowest-cost producers, a key transformation in the upstream landscape as shale producers struggle to break even with new wells as WTI prices still linger around $65-68 per barrel. Whilst Alberta’s oil sands require substantial capital expenditures upfront, once the projects are online, operational costs can be greatly reduced …