KEYFACT Energy
Suncor today confirms it is assessing the impact of the Government of Alberta’s announcement to curtail oil production during 2019.
Suncor believes the market is the most effective means to balance supply and demand and normalize differentials. Less economic production was being curtailed and differentials were narrowing as a result of market forces.
The anticipated regulations will require oil producers to reduce their production effective Jan. 1, 2019.
The specific impact of the production cut will be provided when Suncor issues its 2019 capital and production guidance. The company remains well positioned given the strength of its integration through its midstream logistics and downstream business.