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production cuts News

Semiconductor chip shortage forces Ford to cut F-150 production

Ford Motor is significantly cutting production of its highly profitable F-150 pickup trucks due to an ongoing semiconductor chip shortage plaguing the global automotive industry.

Canada's oil sands still struggling and investors are worried

March has brought a string of setbacks for Canada's struggling tar sands oil industry, including the further delay of two proposed pipelines, a poor forecast for growth and signs that investors may be growing wary.

Enbridge's Line 3 delay a major blow to Canadian oil industry

Enbridge's Line 3 pipeline replacement is being pushed back a year, the company announced Friday. The project, which was initially expect to be in service before the end of 2019 now won't be ready until the second half of 2020.

OPEC acknowledges supply cuts didn't work

The Organization of Petroleum Exporting Countries (OPEC) for the first time, is forecasting that new oil supplies from its rivals will exceed growth in demand this year as the U.S. industry thrives.

General Motors idles Detroit plant, lays off 1,500 workers

Detroit - General Motors confirmed on Thursday it was idling its Detroit-Hamtramck plant for six weeks starting in mid-November and will cut car production by about 20 percent when the plant reopens.
 

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