Oil production in Alberta rose above four million barrels a day for the first time last November, as companies get ready to fulfil what will be the largest new export pipeline in over a decade.
According to the Alberta Energy Regulator’s website, total oil production shot up by 336,822 barrels per day, bringing it to a total daily of 4.16 million, the highest on record since 2010.
Over the first 11 months of 2022, Alberta’s output averaged 3.79 million barrels per day, according to BNN Bloomberg.
The expansion of the Trans Mountain pipeline, which runs from Alberta out to B.C.’s Pacific coast is scheduled to begin this year.
This has led to a surge in production, as companies prepare for what will now allow them to export an additional 590,000 barrels daily.
Alberta is home to the third largest reserve of crude oil-sands deposits, and the province produced more oil than all but four other countries last November.
The province even outpaced China’s average output in 2022.
Including the other provinces, Canada is now the world’s fourth-largest oil producer.
U.S. crude production is predicted to grow by 2.2% this year as well, bringing its total output to 13.2 million barrels per day, according to the Energy Information Administration.
