As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 4.0 MMb/d in August 2024 (rightmost stacked bars in chart below), a record for the month, 161 Mb/d higher than a year ago and the fifth time that the province’s oil output was at or better than 4 MMb/d. The August increase was just 38 Mb/d higher than July as gains in conventional output and synthetic crude oil were almost fully offset by a small decline in the output of non-upgraded bitumen. The small downturn in bitumen likely reflects the last of summer turnaround work at a number of production sites. Moreover, anecdotal information points to the strong possibility that record bitumen output could be forthcoming in September. Overall output is still about 150 Mb/d short of the record set in December 2023.
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- Analyst Insight
Alberta September Crude Oil Production Falls to Five Month Low; Inventory Cover At 15-Year Low
Alberta's oil output declined in September, pushed lower by a pullback in the production of synthetic crude oil as a result of turnaround work.. The province's inventory cover remains at a 15 year low.
- Analyst Insight
Alberta October Crude Oil Production Reaches Second Highest Level on Record
Alberta's oil output reached its second highest level on record in October 2024 at 4.18 MMb/d, just behind the record of 4.19 MMb/d set in December 2023.
- Analyst Insight
Alberta Crude Oil Production Pushes to Record High in November
Alberta reached record oil output at 4.20 MMb/d in November 2024 driven by increases in synthetic crude oil and conventional light crude oil. Is another record on the way for December?
