Canada’s Cenovus Energy is curtailing oil sands production to cut losses spurred by the continued lack of market access and deep crude price discounts, the company said Thursday. * Husky in a ‘good position’ * No more cuts likely in first half * WCS discount to WTI tightens “When Canadian heavy oil is selling at a wide discount to the WTI due to transportation bottlenecks, we have significant capacity to store barrels in our oil sands reservoirs to be produced and sold at a later date,” Cenovus CEO Alex Pourbaix said in a statement. As a “prudent response,” the company has been operating its Christina Lake and Foster Creek facilities at reduced production rates since February, Pourbaix said, adding that despite the reduced output Cenovus expects to exit 2018 within its guidance range of 364,000 b/d to 382,000 b/d. Cenovus is continuing talks with railroads to resolve the issue […]