Alberta has cut oil production by 1 million bpd so far, the province’s Energy Minister, Sonya Savage, has told OPEC, according to Reuters. “The Minister stated there is currently no point in announcing additional output adjustments, as production has come down on its own,” OPEC said, noting that “Additionally, the province already had mandated adjustments in place prior to COVID-19 due to a lack of pipeline capacity and inability to move the oil out of the producing region.” Indeed, Alberta has been a step ahead of other producers when it came to cutting production, although not by design. Pipeline constraints had already forced Canadian crude prices low enough for many producers to struggle to survive, and the fallout of the oil price war and the coronavirus pandemic only sped up the inevitable: forced production cuts on top of government-instituted ones. Alberta’s oil sector was one of the first and […]