PSAC expects 24% fewer oil wells to be drilled in Canada
Another hit to Canada's energy industry. The Petroleum Services Association of Canada says they expect 24-percent fewer wells to be drilled this year than was thought in its initial forecast in late-October. PSAC President and CEO Mark Salkeld says the rapid decline of oil prices over recent weeks "is taking hold" and companies are cutting costs, adding "some difficult times may lie ahead in the immediate term." Here in Alberta, PSAC says the number of wells to be drilled will be down 27-percent...