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by Stockwatch Business Reporter

West Texas Intermediate crude for April delivery lost $1.23 to $78.74 on the New York Merc, while Brent for May lost 75 cents to $82.80 (all figures in this para U.S.). Western Canadian Select traded at a discount of $16.15 to WTI, up from a discount of $16.50. Natural gas for April added eight cents to $1.93. The TSX energy index lost 3.10 points to close at 265.16.

Oil prices wobbled and fell. As widely expected -- and thus already factored into the market -- OPEC+ has rolled over its voluntary production cuts from last November, announcing yesterday that the agreed-upon extension to June 30 (from March 31) should aid in "supporting the stability and balance of oil markets." Rumours swirled last week that the group might extend the cuts all the way to the end of the year, but midyear will have to do.

Here in Canada, energy investors prepared for another busy week of financials. First to release this week's floodgates will be Advantage Energy Inc. (AAV: $10.40) today after the close. Other companies set to file their year-end results this week include Vermilion Energy Inc. (VET: $15.61), Surge Energy Inc. (SGY: $6.91), Tourmaline Oil Corp. (TOU: $62.80), Paramount Resources Ltd. (POU: $30.34), Crew Energy Inc. (CR: $4.66), Bonterra Energy Corp. (BNE: $5.32), Headwater Exploration Inc. (HWX: $6.95) and Kelt Exploration Inc. (KEL: $6.21).

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