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Free AccessAlberta Oil production Falls to 11-Month Low: AER
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.