Husky Energy cuts an additional $700M from 2020 budget as oil prices plummet

For the second time this year, Calgary-based Husky Energy has slashed its 2020 capital spending in response to unfavourable market conditions. On Monday, the energy company announced the decision to cut an additional $700 million in spending from its guidance model released in December 2019. "We have taken immediate action to preserve our balance sheet and core business in this commodity price environment,” said Husky Energy CEO Rob Peabody in a statement. "Our focus remains on health and