Alberta PM Notley: Alberta to cut crude production by 8.7%

Premier Rachel Notley, leader of Canada's province of Alberta, the major crude oil production hub of Canada, has cautioned that they will be cutting oil barrel production by 8.7%, or 325,000 barrels per day.

The cuts are slated to remain in place for exactly one year, and are set to begin on January 1st, 2019, and Notley said in a statement that the cuts will remain in place until the current 35 million barrels in storage, which are expected to finish shipping to market sometime next spring.