Alberta oil production sets another record
Increased oil sands output pushed total production to almost four million barrels per day in November
By Siddhartha Bhattacharya, ATB Economics 12 January 2023 1 min read
Total oil production in Alberta climbed to 3.96 million barrels per day (bpd) in November, a new peak and 2.2% higher than the previous monthly high set in September 2022.
Oil sands output rose by 119 thousand bpd (+3.7%) from October while conventional (including condensates) production held mostly steady.
Averaging 3.73 million bpd over the first eleven months of the year, Alberta’s year-to-date oil output remained at a record high—3.3% above the same period in 2021 and 6.3% higher than before the pandemic in 2019.
In terms of disposition, volumes exported to destinations outside the province drove over 60% of the increase in year-to-date output through November.
Looking ahead, we expect output to remain at or close to this robust level in coming months and get a boost toward the end of 2023 after the completion of the TransMountain Expansion pipeline project.
Answer to the previous trivia question: The three main parts of a kernel of wheat (also known as a wheat berry) are the germ, endosperm, and bran.
Today’s trivia question: In what year was the Calgary Petroleum Products Company created?