As reported by the Alberta Energy Regulator (AER), Alberta’s oil production was 3.90 MMb/d in June 2024, a record for the month (rightmost stacked bars in chart below) and 275 Mb/d higher than a year ago. This was an increase of 215 Mb/d from May driven primarily by a recovery in the output of synthetic crude oil of 165 Mb/d from the winding down of maintenance turnarounds. Both Canadian Natural Resources’ Horizon upgrader (capacity 250 Mb/d) and Suncor’s Base Plant upgrader (capacity 350 Mb/d) completed turnarounds in the month and are likely to experience additional output gains once July data is reported.
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- Analyst Insight
Alberta Sets New Crude Oil Production Record for May; Year-on-Year Growth Plowing Ahead
Despite heavy turnaround work in the oil sands, Alberta set another record in terms of May oil production, led, as usual, by the oil sands.
- Analyst Insight
Alberta Sets New Crude Oil Production Record for July; Year-on-Year Growth Decelerates
Alberta's oil output recovered to 4 MMb/d in July, led by gains in synthetic crude oil;. With turnarounds complete in the oil sands, August crude production might possibly set an all-time record north of 4.2 MMb/d.
- Analyst Insight
Alberta Sets New Crude Production Record for April, With Acceleration in Year-on-Year Growth
Alberta's crude oil production growth continues to impress, running near 200 Mb/d on a year-over-year basis; growth could well top 250 Mb/d for 2024..
