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Alberta Oil production Falls to 11-Month Low: AER

OIL
Energy BulletsHomepagemarkets-real-timeBulletCommoditiesCanada Bank of Canada Market News

Alberta’s oil production fell to 3.68m b/d in May, down 244k b/d on the month and its lowest level since June 2023, according to the Alberta Energy Regulator (AER), cited by Bloomberg.

  • Upgraded oil output fell 206k b/d to 1.02m b/d, the lowest in more than three years. This accounted for most of the 293k b/d oil sands drop.
  • Bloomberg said that production had fallen due to maintenance at oil-sands upgraders.
  • Total output in the first five months of 2024 was up 204k b/d on the year, the largest annual growth since 2018.
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Alberta’s oil production fell to 3.68m b/d in May, down 244k b/d on the month and its lowest level since June 2023, according to the Alberta Energy Regulator (AER), cited by Bloomberg.

  • Upgraded oil output fell 206k b/d to 1.02m b/d, the lowest in more than three years. This accounted for most of the 293k b/d oil sands drop.
  • Bloomberg said that production had fallen due to maintenance at oil-sands upgraders.
  • Total output in the first five months of 2024 was up 204k b/d on the year, the largest annual growth since 2018.