That’s a lot of oil
Over the first quarter of 2023, Alberta produced a record 343.2 million barrels of oil
By Siddhartha Bhattacharya, ATB Economics 4 May 2023 about 1 min read
Alberta’s oil output stood at record levels in the first quarter.
Following a 2.6% monthly gain in February, oil production in Alberta ticked up by 0.4% to an average of 3.86 million barrels per day (bpd) in March.
This was 3.3% higher than the previous March, but 2.6% below the peak set in November last year.
Over the first quarter of 2023, Alberta produced a record 343.2 million barrels (equivalent to 3.81 million bpd) of oil. This amounts to an increase of 3.8% from last year and 4.4% from 2020 levels.
Conventional (including condensates) production reached its highest level since October 2018, while oil sands also inched higher.
Year-to-date growth was driven entirely by higher volumes exported to destinations outside of the province, as dispositions within Alberta moderated from the first quarter of 2022.
Answer to the previous trivia question: The classic board game Snakes and Ladders originated in ancient India as Moksha Patam.
Today’s trivia question: The forces of which empire did the Mexican army defeat on May 5, 1862 at the Battle of Puebla on May 5, 1862?