WorldOil Alaskan and Canadian oil finds new Chinese buyers as their economy restarts Canadian and Alaskan crude that normally travels to the U.S. West Coast is finding a market in China, where demand is almost back to pre-pandemic levels. Enbridge cuts jobs, defers capex spend as falling demand limits oil flows Enbridge Inc., North America’s largest pipeline operator, is cutting jobs, lowering executive pay and deferring some capital spending as measures to fight the Covid-19 virus reduce oil flows on its system and slow down construction. Canadian heavy crude surges on output cuts, new storage options Canadian heavy crude surged to its strongest price versus futures since at least 2008 as producers curtailed output and Enbridge Inc. agreed to open part of its pipeline system for storage. Canadian producers see markets stabilizing, offering hope for a rebound While global oil prices remain near multi-decade lows, the heads of two major Canadian crude producers see reasons for hope that the market will rebound in the months ahead. Canada attaches stricter environmental rules to oilfield support funds Canada’s plan to spend $1.2 billion to help clean up the country’s derelict oil wells comes with strings attached: tougher environmental rules for the energy-rich province of Alberta. ConocoPhillips curtails U.S., Canadian production, extends spending cuts ConocoPhillips is voluntarily curtailing 225,000 gross boepd, and reducing cash usage by more than $5 billion in 2020. Alberta’s premier sees oil tariffs gaining traction in North America Alberta Premier Jason Kenney said the idea of the U.S. and Canada placing tariffs on OPEC crude imports is gaining traction as a way to protect North American energy producers from the market’s collapse. Daily Brief podcast, Monday, April 6th Kurt and Cameron discuss the expanding OPEC+ negotiations, Canada's emerging role in production cuts, and the API's support (or lack thereof) for the broader oil industry. Alberta to join OPEC+ call, pledges to “keep an open mind” on cuts Alberta Energy Minister Sonya Savage will participate in an OPEC+ call next week aimed at resolving the global oil price war and will “keep an open mind” on how the province can participate in a solution, Premier Jason Kenney said Friday. Canadian operators cut nearly $2.5 billion from 2020 budgets Canadian oil and gas companies are cutting C$2.4 billion to C$3.5 billion ($1.7 billion-$2.5 billion) from their budgets for this year as low prices make most production unprofitable.