indicatorThe Owl

Seasonal maintenance slows oil production in April

Oil production in Alberta decreased by 8.6% to an average of 3.53 million barrels per day in April

By Siddhartha Bhattacharya, ATB Economics 5 June 2023 less than a minute

After averaging over 3.8 million barrels per day (bpd) in the first quarter, oil production in Alberta decreased by 8.6% to an average of 3.53 million bpd in April.

The monthly slowdown was likely a result of planned maintenance-related shutdowns that are a typical occurrence for this time of the year.

On a year-to-date (YTD) basis, Alberta produced a total of 449.0 million barrels (equivalent of 3.74 million bpd) of oil over the first four months of 2023, up 2.1% from the same period in 2022 and 5.1% higher than in 2021.

Conventional (including condensates) production was up by 8.5% YTD, responsible for the majority (over 60%) of the aggregate increase, while oil sands output grew by 1.0% YTD.

Outside of seasonal maintenance, we expect next month’s report to reflect the impact of the shutdowns experienced due to the May wildfires.

Answer to the previous trivia question: June has two “official” birth flowers. One is the rose and the other is the honeysuckle.

Today’s trivia question: How deep is Alberta’s Cold Lake?

Alberta produced 3.74 million barrels per day of oil over the first four months of 2023

Alberta produced 3.74 million barrels per day of oil over the first four months of 2023


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