indicatorThe Owl

Oil production cools to start the year

Year-over-year oil production in Alberta was 4.8% below January 2021

By Siddhartha Bhattacharya, ATB Economics 4 March 2022 less than a minute

Alberta’s oil output came in at 110 million barrels (3.6 million barrels per day) in January. Likely attributable to the cold snap, this stood 2.5% lower from December and 4.8% below last January.

The decline was led by oil sands production, which eased due to a 10.3 million barrels (-27%) contraction in upgraded bitumen. This was, however, tempered by a 7.7 million barrels (+13%) increase in raw bitumen, which pushed non-upgraded production to a record 66.3 million barrels in January.

Meanwhile, conventional output (including condensates) ticked down 1.2% and partially reversed the gain experienced in December.

In terms of disposition, sales to Alberta’s refineries took a breather in January, but this was more than offset by higher volumes exported to other provinces and the U.S.

Answer to the previous trivia question: Alberta is named after Queen Victoria's fourth daughter, Princess Louise Caroline Alberta

Today’s trivia question: How many barrels of crude oil per day can Enbridge’s Mainline pipeline transport?

Oil production in Alberta dipped  in January 2022

Oil production in Alberta dipped in January 2022


Economics News

Subscribe and get a quick daily snapshot of what’s happening in Alberta’s economy

Need help?

Our Client Care team will be happy to assist.

Chat now
ATB Virtual Assistant
The ATB Virtual Assistant doesn't support landscape mode. Please tilt your device vertically to portrait mode.