Canadian oil and gas CEOs take cautious approach during price rout

News Snapshot:

CEOs of Canadian oil and gas producers said on Tuesday they are seeking to avoid making abrupt decisions about spending or production, as global oil prices hit four-year lows and recession fears grow. Canada, the world’s No. 4 oil exporter, was spared the Trump administration’s broad global tariffs on April 2 but faces U.S. tariffs on steel and cars. “My suspicion is that most companies will work to invest through this cycle, though I would also say that in price downturns, this industry does a really good job of shedding costs,” said Jon McKenzie, CEO of oil sands producer Cenovus...