Canadian oil producers have been having a hard time after the 2014 crisis, harder than their peers elsewhere, constrained in their recovery and growth plans by a shortage of oil export capacity. However, in evidence of silver linings, they are now focusing on paying down debt and buying back shares issued at the height of the crisis as a survival measure that was very popular in the oil industry. Reuters reports that an obligatory production cut has seen local producers accumulate cash they can’t use to boost output growth so they are using it to cut down debt. The previous Alberta government instituted the OPEC-style production cut last December in a bid to prop up historically low prices of Canadian crude brought about by that same pipeline shortage that is still plaguing the industry with no resolution in sight. This year, cash flow in Canada’s oil industry is seen […]