As Canadian oil firms prepare to start reporting what would surely be bleak Q1 earnings and short-term outlooks, analysts expect that the companies will announce curtailments in production to the tune of around 1 million bpd in the coming months given the demand loss and low oil prices. “It is hard for us to fathom how Western Canadian crude production can avoid a ~1 million+ bbl/d drop in output in the coming weeks,” Michael Dunn, an analyst at Stifel FirstEnergy, said in a note, as carried by Bloomberg . Companies in Canada have already reacted to the oil price plunge , but analysts and investors will be looking for further clues in the earnings reports about how they plan to go through the second major oil crisis in just five years. Husky Energy has cut its budget and production, Cenovus Energy slashed its 2020 capital spending by around 32 […]