Alberta Premier Rachel Notley announced a mandatory oil production curtailment of 325,000 bbl/d or 8.7% of total provincial production, beginning January 1, 2019.
The total production curtailment is approximately 75,000 bbl/d less than what many in the industry called for, and does not specify if there is a minimum production threshold per company for enacting the curtailment.
The premier said the law will be reviewed monthly.
More to come…
