Canada produced 23.1 million cubic metres (145.6 million barrels) of crude oil and equivalent products in October, up 13.2 per cent from the same month a year earlier, according to Statistics Canada.
The federal agency said on Friday that Alberta produced 19.3 million cubic metres of crude oil and equivalent products in October, an increase of 17.3 per cent from the same month a year earlier. Alberta (83.2 per cent), Saskatchewan (10.0 per cent) and Newfoundland and Labrador (4.2 per cent) accounted for the majority of Canadian production of crude oil and equivalent products.
“Non-upgraded crude bitumen (+15.7 per cent) and synthetic crude (+23.2 per cent) were the primary contributors to the overall rise in production, while light and medium crude (+5.4 per cent) and equivalent products (+16.9 per cent) also increased from October 2017. Production in October 2018 was augmented by the completion of maintenance at an Alberta facility,” said StatsCan. “Meanwhile, heavy crude oil was down 7.1 per cent in October. Year over year, production of heavy crude has decreased in nine out of 10 months so far in 2018.
“Crude oil production (excluding equivalent products) totalled 21.2 million cubic metres in October, up 12.8 per cent from the same month a year earlier. Oil sands extraction, which consists of non-upgraded crude bitumen and synthetic crude oil, increased 18.3 per cent year over year to 15.1 million cubic metres. Over the same period, extraction of light, medium and heavy crude oils rose 1.3 per cent to 6.1 million cubic metres.”
Statistics Canada said exports of crude oil and equivalent products increased 10.7 per cent from the same month a year earlier to 17.9 million cubic metres in October.
“Exports via pipelines to the United States rose 3.0 per cent and accounted for 83.8 per cent of total exports. Over the same period, exports to the United States by other means (including rail, truck, and marine) continued to increase, and accounted for 13.1 per cent of total exports. The remaining 3.1 per cent of exports went to countries other than the United States. Meanwhile, imports of crude oil to Canadian refineries, which tend to be volatile, were down 12.5 per cent to 2.3 million cubic metres.”
The federal agency said closing inventories of crude oil and equivalent products totalled 19.1 million cubic metres in October, up 11.9 per cent from the same month a year earlier.
“The production of marketable natural gas in Canada rose 0.9 per cent from the same month a year earlier to 14.3 billion cubic metres in October. Production was concentrated in Alberta (70.2 per cent) and British Columbia (27.6 per cent),” it said.
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