Canadian Oil Producers Also Affected by Decline in Oil Prices
The drilling rights sales boom in the oil-producing region of Alberta in western Canada is slowing down as commodity prices decline. According to provincial data, the average lease price for oil sands land has fallen to 771 Canadian dollars per hectare this year. That is eighteen percent lower than last …
Bloomberg: Canada Will Limit Oil Production
The number of licenses issued for new natural gas wells in Canada during the first quarter of 2025 increased by 26 percent compared to the previous quarter, reaching 308 licenses, which is the highest quarterly figure recorded over the past two years. Meanwhile, the number of licenses for oil wells …