Oil Price Crash Is Already Hitting Alberta’s Production

The oil industry in Alberta is bracing for difficult times ahead, with WTI prices crashing to $60 per barrel and uncertainties about oil demand growing in a world of trade and tariff wars. Last week, the tariffs announced by the Trump Administration and the decision by OPEC+ producers to add in May more barrels to the market than expected crushed oil prices, with WTI Crude, the U.S. benchmark, crashing to $60 per barrel—the lowest level in four years. The benchmark U.S. oil price, against which Alberta’s producers plan and budget their…