Coronavirus pandemic has destroyed demandGlobal measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers. We welcome any news that brings stability to global oil markets," O'Regan said in an emailed statement to CBC News Sunday. "The federal government is deeply concerned about oil price instability and the impact on thousands of workers in Canada's energy sector, and their families. "We are glad to see sanity return to global oil markets. In the interim, we hope that the measures taken by OPEC+ will stabilize the global price of oil and prevent further stress to energy workers in Alberta."

Source: CBC News April 12, 2020 18:31 UTC