OPEC is reaching out to other oil producers.
[Yet the official also noted the oil cartel is keeping an eye on non-members too.
“The U.S., Saudi Arabia, Russia, Canada, Brazil and other well endowed countries with hydrocarbon reserves -- we need to work with each other, collaboratively,” he said, as quotes by Bloomberg.]
And Canada oil sands has come to it’s senses.
[The oil sands cut will be temporary but, according to the industry itself, even when the three companies resume operations at their upgraders, there is little upward production growth pressure in Canadian oil sands. It seems emission reduction is a bigger priority for oil sands operators than production growth.
“I can’t see much growth in the oil sands happening because there is going to be less demand in the future,” Canadian Natural Resources chief executive Tim McKay told Bloomberg. “The first step is we have to get our carbon footprint down.”]
https://oilprice.com/Energy/Energy-...ter-As-500000-Bpd-Come-Offline-In-Canada.html
Oil $60 Short Term Target, page-163
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