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OIL: Canadian Oil Output Continued Rise in June: OPIS

OIL

Canadian oil output remains strong, with production of crude and equivalent products in June, showing a year-on-year gain for the ninth straight month, OPIS said citing Statistics Canada.

  • Oil production in June totalled 135.2m bbl, up 1.4m bbl from May and 7.7m bbl higher than June 2023.
  • Output was below the 150m bbl produced in December, OPIS said.
  • Equivalent products production was nearly 15.3m bbl, about 14k bbl higher than May and 1.7m bbl above June 2023.
  • The increase in June production was due to higher activity in the western oil sands region as turnaround work was completed, Statistics Canada said.
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