Alberta Crude Oil Production Hit Second Highest Level in October

SEATTLE (Oil Monster): According to the most recent production numbers issued by the Alberta Energy Regulator (AER), crude oil output in the province reached its second highest level on record in October this year.

Alberta's oil output totaled 4.18 MMb/d in October of this year, a 360 Mb/d increase over the previous month and the previous year. This is the second greatest oil output on record, after only the record of 4.19 MMb/d set in December last year.

RELATED NEWS:

Suncor Achieved Record Crude Production from Alberta Wells

Canadian Utilities to Develop Alberta Natural Gas Pipeline

The increase in October oil production was primarily driven by a 280 Mb/d increase in non-upgraded bitumen output, which occurred after a number of bitumen producing sites completed turnaround work in August and September. The ramping up of new production assets, such as Imperial's Grand Rapids project, also contributed to the increased output. In October, non-upgraded bitumen output peaked at 2.28 MMb/d, a record high. This compared to the previous record of 2.20 MMb/d, set in September 2023.

Alberta's crude oil inventory climbed by 3.1 MMbbl in September to 58.6 MMbbl by the end of October. The projected days of inventory cover remained at 11.8 days. Alberta's exports have reached historic levels in recent months.