Reuters An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market. The Organization of the Petroleum Exporting Countries and non-OPEC producers in December reached their first deal since …

  Bloomberg When oil topped $100 a barrel three years ago, the tiny village of Norman Wells in Canada’s high arctic was gearing up to be the “Dubai of the Mackenzie River,” with oil revenue bringing prosperity to all. Now, with oil at half that price and one of Canada’s oldest wells set to close, the future is less certain …

  Bloomberg The latest challenge facing a $27 billion liquefied natural gas terminal that Malaysia’s Petroliam Nasional Bhd. wants to build in western Canada: the race for the office of the premier in British Columbia. John Horgan, leader of the province’s opposition New Democratic Party thrust the LNG project into the middle of his campaign on Friday, telling reporters it …