• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Columns
    • Discussions
  • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAODC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Well Licences
    • USA Market Data
    • Data Subscription
  • Jobs

Alberta cuts oil output by 1 million bpd

May 27, 202011:01 AM Reuters0 Comments

Oil Pump JackAlberta has cut oil output by a quarter or about 1 million barrels per day (bpd), Alberta’s energy minister, Sonya Savage, has informed OPEC.

The output cut by Alberta, home to the world’s third-largest oil reserves, represents about a quarter of its production, Savage said in an interview to be published in the April/May issue of the OPEC Bulletin.

“The Minister stated there is currently no point in announcing additional output adjustments, as production has come down on its own,” an OPEC statement said.

“Additionally, the province already had mandated adjustments in place prior to COVID-19 due to a lack of pipeline capacity and inability to move the oil out of the producing region.”

Goldman Sachs on Tuesday said Canada may announce additional production cuts if oil prices continue to remain low.

The Organization of the Petroleum Exporting Countries and other large oil producers in April agreed to cut output by almost 10 million bpd, or 10% of global oil production, in May-June.

Savage said she hoped Alberta would continue to be part of future talks between OPEC and major oil producers to balance the oil markets.

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn
Sign up for the BOE Report Daily Digest E-mail
Latest Headlines
  • Canada unveils GHG reduction credits to boost carbon trading market
  • Canada’s weekly rig count drops 5 to 172
  • AER suspends SanLing Energy Ltd.’s operations
  • U.S. drillers add oil and gas rigs for second week in a row
  • Tamarack Valley Energy upsizes previously announced financing

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2021 Grobes Media Inc.