Alberta Premier Danielle Smith announced on Wednesday that 550,000 bbls of Alberta heavy oil arrived at HD Hyundai Oilbank Co. Ltd.’s Daesan refinery in South Korea.

The Alberta government is exploring the potential of nuclear power in the province, which will include a public consultation expected to take place in a few months.

For 2025, Canadian oil production is forecast to climb by 180,000 bbls/d to an annual high of 6.3 million bbls/d, the International Energy Agency (IEA) noted in its July oil market report.

Drilling rig activity in Western Canada and the Top 10 active operators as of July 11, 2025, as reported this morning by Rig Locator.

The U.S. rig count is down two from last week to 537 with oil rigs down one to 424, gas rigs unchanged at 108 and miscellaneous rigs down one to five.

Q2 2025 pricing remained primarily anchored in core supply-demand fundamentals rather than reactive policy moves or political uncertainty.

U.S. President Donald Trump’s wide-reaching One Big Beautiful Bill Act includes changes to supports for decarbonization for emerging clean technologies.

Vermilion Energy Inc. closed its previously announced sale of Saskatchewan assets for gross proceeds of $415 million.