Canada seen drilling fewer oilfield wells in 2020

Canada will see a 10% drop in oilfield wells drilled in 2020, as producers reduce investment, the Petroleum Services Association of Canada (PSAC) forecast on Thursday.

PSAC predicted that 4,500 wells will be drilled in Canada next year, down from 5,000 in 2019. Corporate investment is declining due to pipeline constraints and uncertainty about government policy, the industry group said in a statement.