Oil production in Alberta sets new record
Daily oil production averaged 3.6 million barrels per day over the first six months of the year
By Rob Roach, ATB Economics 10 August 2022 1 min read
At 654 million barrels, crude oil production in Alberta set a record over the first half of the year with daily output going from 3.5 million barrels per day over the January to June period in 2021 compared to 3.6 million barrels per day in 2022.
Ten years ago, daily production over the same period averaged just 2.3 million barrels per day.
The oil sands accounted for 85% of total output over the first half of the year with daily production up by about 24,000 barrels per day (+0.8%) compared to the same period in 2021.
Conventional production (including condensate) posted a larger increase, rising by about 62,000 barrels per day (+12.5%).
While high prices provide an incentive to push short-term production higher, other factors are in play, including the cap on output presented by the physical limits of the current transportation system.
Answer to the previous trivia question: According to travelmath.com, the distance from Edmonton to Odessa is about 8,416 kilometres “as the crow flies.”
Today’s trivia question: Not including upgraders, how many oil refineries are there in Alberta?