“It’s a step in the right direction,” said Joan Pinto, an analyst with CIBC Capital Markets. “We’re dealing not with the symptom, but the problem.” Ms. Pinto said WCS’s rise Monday, if it holds, would be among the largest one-day gains recorded in the past decade. The price for Canadian crude rose along with gains in Brent and WTI. The global and U.S. crude benchmarks climbed after Russia said it had extended an agreement with Saudi Arabia to stabilize oil markets, raising hopes the Organization of the Petroleum Exporting Countries and its allies would cut production later this week. Sunday’s announcement by Rachel Notley, the leader of Alberta, the Western Canadian province that contains almost all of Canada’s oil, was an extraordinary intervention by the government into the market. Canada’s constitution gives provinces broad authority to regulate natural resources, including levels of production. The last time the province took […]