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Rachel Notley did the right thing. With Western Canadian Select (WCS) Oil prices stuck in a new normal, and distress spreading across all grades of crude oil, she mandated production cuts from January 1, 2019 for the province's producers.
The proposed cuts would take effect beginning in January 2019, and will cut production initially by 325,000 barrels per day. This cut amounts to a roughly 8.7 per cent reduction, the government said, as Alberta currently produces 3.7 million barrels per day of raw crude and bitumen.