Canadian oil production up in July: IEA

Image: Cenovus Energy

Total Canadian oil production grew by 50,000 bbls/d in July to surpass 5.5 million bbls/d, according to a new report from the International Energy Agency.

A 100,000 bbl/d increase in synthetic crude oil was partially offset by a fall in raw bitumen and offshore production, the IEA said.

“Alberta’s upgraders produced 1.25 million bbls/d in July, 235,000 bbls/d more than a year earlier. In contrast, un-upgraded supply fell by 60,000 bbls/d month over month, to 1.77 million bbls/d, 125,000 bbs/d less than a year ago,” the IEA said.

Despite Alberta’s ongoing oil curtailment, the IEA expects total Canadian production to increase by 95,000 bbls/d on average this year and a further 100,000 bbls/d next year, when output reaches 5.6 million bbls/d.

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