Oil flowing near record highs in Alberta, report says

Pumpjacks pump crude oil near Halkirk, Alta., June 20, 2007. (Larry MacDougal / The Canadian Press)

New data from ATB and the Alberta Energy Regulator says that oilsands production in the province is still at record levels.

The statistics, which were posted on ATB's website on Wednesday, say oil production in Alberta averaged nearly 3.8 million barrels per day in July, just 1.7 per cent short of the record set in November 2021.

The report also said that production was higher during the first seven months of 2022 over the same period in 2021.

"This was mainly a result of strong year-to-date gains in raw bitumen (+1.7 per cent) and conventional (+12.5 per cent) output, which offset a 0.4 per cent dip in upgraded production during the same timeframe," ATB wrote.

ATB said oil exports drove the majority of the increase.

The provincial government says high prices for the commodity are keeping production levels high in Alberta and the industry is "well-positioned" for the future.

"Since day one, our government has stood up for and supported Alberta’s energy sector, including administering critical supports like the $1-billion Site Rehabilitation Program during the downturn and pandemic," said Alex Puddifant, press secretary for Alberta's Minister of Energy Sonya Savage.

"The demand for responsibly produced energy is rising and Alberta is well-positioned to advance energy security and reliability, while also helping reduce global emissions. That’s why we continue to promote Alberta energy as part of long-term solution for the world."