Canada will dramatically increase oil production

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www.vsyako.netPhoto: Todd Korol / Reuters

A canadian company within a month to resume oil production at 20 percent of deposits of oil Sands that were closed after the fall in oil prices, according to Bloomberg.

Cenovus Energy, Husky Energy, Baytex Energy and ARC Resources have already started the production in such areas. Soon, production will dramatically increase and Imperial Oil — field operator Kearl and Cold Lake wells.

According to the CEO of Cenovus Alex Porbe, signal recovery was the growth of prices for raw materials. Mining became profitable once the price of WTI exceeded $ 40 per barrel.

After the collapse of prices on the market, the canadian company has reduced the extraction of raw materials up to one million barrels a day at fields of Alberta, testified to the decline in production of 25 per cent, reports the Agency.

After OPEC meeting+ in early June, world oil prices have returned to levels that were recorded in March, when the collapse of the previous multi-year agreement for Alliance. As of July 8, the price of Brent crude hovering around $ 43 per barrel and WTI above $ 40.

Earlier it became known that the U.S. Supreme court decided to close the Dakota Access pipeline because of a violation of environmental requirements. This decision will block the only route for the Bakken field in North Dakota, one of the main sources of shale oil in the United States.

Video, photo All from Russia.

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