Oil production down 16% from pre-COVID levels

Oil production in Alberta is 16 per cent below its pre-coronavirus crisis levels, Energy Minister Sonya Savage told the Energy Intelligence Forum on Tuesday.

Alberta’s oil output dropped by as much as 880,000 barrels per day, or 22 per cent, at the peak of the production cuts in response to an unprecedented drop in global fuel consumption due to the epidemic, Savage said.

The province however has no plans to join an alliance of OPEC and other major oil producers to limit global output, known as OPEC+, she added.

(Reuters)