Alberta's Non-Mining Oil Production Soars To Record High

Oil production from non-mining processes in the Canadian province of Alberta hit an all-time high in October 2021, averaging 2.27 million barrels per day (bpd), marginally topping the previous record of 2.25 million bpd set in December 2019, a Rystad Energy report shows. Contrary to the structural shift towards lighter barrels in the US Gulf Coast market, the composition of upstream supply in Alberta is the heaviest in modern history. Output in October 2021 jumped a staggering 103,000 bpd month-on-month, driven primarily by increases in steam-assisted…