Canadian Oil Companies Raise Production

Canadian oil producers have plans to start ramping up production after the Alberta government said it would remove oil production limits at the end of the year. “We’re going to see a significant amount of that come back over the next few months,” Alex Pourbaix, Cenovus CEO, told Reuters in an interview. The removal of the curtailment measures was welcomed by an embattled industry that had not yet recovered from the last crisis before this one hit. Yet now heavy oil demand is rising while supply remains tight because of U.S. sanctions…