Bloomberg British Airways is refusing to offer pilots and other staff a new three-year salary package, citing an uncertain post-Brexit outlook in proposing a 12-month agreement instead. “We can agree a one-year pay deal,” the IAG SA-owned airline said in a letter to unions obtained by Bloomberg News. “This gives certainty over pay for colleagues in what is anticipated to …

Bloomberg Venezuela’s oil production will likely fall 18 percent to around 900,000 barrels per day due to pressure from US sanctions and lack of materials for workers, compared to a current output estimate of 1.1 million barrels per day, according to Ann-Louise Hittle, an oil analyst at Wood Mackenzie.

Bloomberg Alberta is easing mandatory oil curtailments after prices for heavy crude from the Canadian province surged while producers were getting exasperated. The new target for output next month will be 3.63 million barrels a day, up from 3.56 million in January, the provincial government said in a statement. Inventories have dropped by 5 million barrels, reducing a glut that …