Record low oil price in Alberta

By Brian Konrad
November 19, 2018 - 6:43am

EDMONTON, AB — There's another voice calling on the Alberta government to order a cut in oil production as a way to boost prices.
 
The Alberta Party wants producers to reduce production until prices improve.
 
Cenovus Energy called for that last week, but rival energy giants Suncor and Husky say a market solution is the answer.
 
Crude oil from Alberta hit a record-low price of 14-dollars-a-barrel last week.
 
At the same time, the benchmark price for American oil is about 50 dollars a barrel higher.

The market price of Canadian oil will play prominently in an economic update Federal Finance Minister Bill Morneau will deliver this week.

 

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