indicatorThe Twenty-Four

Pumping power

Alberta sets annual oil production record

By Rob Roach, ATB Economics 7 February 2023 less than a minute

Alberta’s crude oil production totalled just under 1.4 billion barrels last year or about 3.73 million barrels per day.

Last year’s output breaks the previous record set in 2021 and is almost double the amount of oil produced in 2010.

Conventional oil production (including condensate) was 12.0% higher in 2022 than in 2021 while oil sands output increased by 2.0%.

Average daily production in December was 3.8% lower than the month before, but this is part of a typical seasonal cycle.

On a year-over-year basis, average daily output in December 2022 was 4.4% higher than the previous December.

The expected completion of the Trans Mountain Pipeline Expansion Project later this year will enable additional growth in Alberta’s annual oil production by adding over 500,000 barrels per day of egress capacity.

Answer to the previous trivia question: Super Bowl LV in 2021 holds the record for the big game’s smallest crowd. Only 24,835 were allowed in the stadium due to COVID-19 restrictions.

Today’s trivia question: Which Super Bowl had the largest crowd?

Annual oil production in Alberta reached a record high in 2022

Annual oil production in Alberta reached a record high in 2022

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