The OPEC cartel and other oil producers agreed Sunday to cut crude production by at least a tenth of global supply — an unprecedented move to stabilize the market. Russian President Vladimir Putin, U.S. President Donald Trump and Saudi Arabia’s King Salman all support the deal, which would see global crude output cut by 9.7Read More →

The shelving of the proposed $20.6-billion Frontier oilsands mine this week stems mostly from the length of time it took for it to win regulatory approval, says the CEO of oilsands producer Husky Energy Inc. The project application was withdrawn by Teck Resources Ltd. last Sunday, just days before theRead More →

Vancouver-based Teck Resources Ltd., has withdrawn its application to build a massive oilsands project in northern Alberta, citing the ongoing debate over climate policy in Canada. The federal government was slated to make a decision this week on whether to approve the $20.6-billion, 260,000-barrel-per-day Frontier.  Sources close to the projectRead More →