New data from the International Energy Agency shows Canadian oil production dropping by a big 195,000 bbls/d in May as seasonal maintenance at oilsands operations added to mandatory production curtailments in Alberta.
Alberta oil output fell 140,000 bbls/d on lower raw bitumen output, while synthetic crude oil production inched 15,000 bbls/d higher to 1.08 million bbls/d.
The increase in SCO production appears to be evidence of a trend that Suncor Energy discussed earlier this year.
The oilsands leader reported record synthetic crude oil production in Q1/2019 as it opted to reach for higher value of fewer bbls during Alberta’s ongoing curtailment order.
The IEA said that while Albertan production was 270,000 bbls/d lower in May than in December, it was 80,000 bbls/d higher than May 2018.
Offshore output inched up to 272 bbls/d as a continued ramp-up of the Hebron field and a recovery at the White Rose field more than offset lower volumes from the Hibernia and Terra Nova fields, the IEA said.