• As of January 1, 2026, the Free Trade and Labour Mobility in Canada Act is in effect, aimed at removing interprovincial barriers to trade and labour mobility. Goods and services provided in line with requirements by a province or territory will be recognized as meeting comparable federal requirements. In addition, a worker licensed or certified by a province or territory will be able to work in a comparable occupation in a federal jurisdiction.

• According to LSEG, the U.S. exported 111 million metric tons of LNG in 2025, a 24% increase year over year and almost 20 million metric tons more than 2nd place Qatar.

• OPEC+ agreed to keep oil output unchanged on January 4th, 2026, consistent with its previous announcement to pause output hikes for Q1 2026. The next OPEC+ meeting is scheduled for February 1st.

2026 E&P CapEx Updates: