indicatorThe Owl

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?

Oil production in Alberta is higher than it has ever been

Oil production in Alberta is higher than it has ever been

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