The Canadians have emerged as the unlikely white knight for oil bulls, driving crude prices up by promising the output cuts the Saudis have withheld. U.S. West Texas Intermediate crude was up $1.69, or 3.3%, at $52.62 per barrel ET after Canada’s Alberta province pledged to cut 325,000 barrels per day, or nearly 9% of its output, beginning January to try and reverse a historic price slide in its own oil vs. WTI.
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