CAPP Comments on OPEC Deal
April 13, 2020 – Calgary, Alberta
“While it’s encouraging that there’s an agreement to end the irresponsible global oil price war, much damage has been done. The damage to the Canadian energy sector will be longer lasting due to the liquidity crisis triggered by these market manipulations.
The other reality is there is nothing OPEC can do to stop the COVID-19 pandemic. We are still months away from understanding the devastation that is being brought to every corner of Canada’s economy.
Canada’s oil and natural gas industry’s focus remains on weathering this crisis and working with governments to put into place support that will save people’s jobs in the short term and create the foundation for the economic recovery.”
– Tim McMillan, president and CEO, Canadian Association of Petroleum Producers