Canadian province Alberta extends oil curtailments by 1 year, through 2020

The government of Canada's main oil-producing province, Alberta, said on Tuesday that it will extend mandatory curtailments by an extra year through 2020, due to uncertainty about when expanded pipelines may come online.

Alberta imposed crude production limits in January to drain a glut of oil in storage that built up due to congested pipelines. The curtailments have dramatically reduced a painful discount on Canadian heavy crude, but investor confidence remains shaken and energy stocks are trading around historic lows.

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