Canada turns on oil taps as prices rise, curbs lift

By Reuters

Canadian crude producers are churning out extra barrels to finish their hardest year in decades on a higher note, after Alberta's government lifted restrictions and as demand for heavy oil surged. Cenovus Energy Inc is likely to raise production in December, with volume depending on prices, and expects rivals to re-start their curtailed capacity, Chief Executive Alex Pourbaix said last week. Suncor Energy Inc said last week it would raise production at its Fort Hills mine in 2021 and is making improvements at its Firebag site to squeeze out more capacity.

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