With increased pipeline capacity coming online and relatively strong prices, it’s not a surprise that Alberta’s oil production keeps setting records.

At 3.93 million barrels per day (bb/d) and 11.4% above where it was 12 months earlier, production in the month of April has never been higher.*

Year-to-date (YTD) production was also the highest it has ever been four months into the year with total output from January to April 5.2% higher than over the same period in 2023.

Oil sands production rose by 5.7% to 3.32 million bb/d on YTD basis while conventional output (including condensate) increased 2.3% to 0.61 million bb/d.

Oil production in Alberta is expected to rise even higher due to the additional egress capacity provided by the expanded Trans Mountain Pipeline.

The accompanying increase in oil exports is a major driver of our real GDP growth forecast for Alberta this year and next.

*Crude production in Alberta varies due to seasonal factors so month-to-month comparisons are not ideal. For this reason, we examine year-over-year and year-to-date changes.

Answer to the previous trivia question: The term “tragedy of the commons” was used for the first time in 1968 by Garret Hardin in Science Magazine.

Today’s trivia question: How many times have the Edmonton Oilers made it to the final round of the playoffs?