Canada Oil Today marks the end of what has been one of the best weeks in two years for positive news for Canada’s battered upstream oil and gas industry. Obviously, the OPEC meeting November 30, which concluded with the commitment to meaningful production restraint resulting in an immediate jump in crude prices, has every oil producer, investor and employee (E&P and oilfield service) in the world starting to believe the light at the end of the tunnel may not be a train. Canada is no exception. WTI at US$51 a barrel is US$24.81 higher than the recent multiyear low of US$26.19 on February 11, 2016. Canada produces about 4 million barrels per day of light oil, synthetic crude, bitumen and natural gas liquids. Using the current Canadian dollar exchange rate of US$0.75, Canadian petroleum liquids are fetching over C$30 a barrel more than nine months ago. This equates to […]