Another month, another oil production record
Any way you cut it, crude oil production is on the rise in 2022
By Rob Roach, ATB Economics 9 November 2022 less than a minute
Oil production in Alberta averaged a record-breaking 3.88 million barrels per day in September.
The previous high point was reached in August when daily production averaged 3.82 million barrels.
Compared to September 2021, daily production was up by over 339,000 barrels per day or 9.6%.
If we go back to September 2010, Alberta’s crude oil production was just 1.86 million barrels per day.
Any way you cut it, crude oil production is on the rise in 2022 and is a major reason why the province will post some of the strongest growth in Canada this year.
Additional production will be supported in the short-term by relatively strong oil prices and the planned completion of the Trans Mountain Pipeline Expansion Project later next year.
Answer to the previous trivia question: According to the U.S. National Association of Wheat Growers, the first bagel rolled into the world in 1683.
Today’s trivia question: How much of Alberta’s oil production comes from the oil sands?