Alberta Oil Production Limit Increasing In April

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Alberta Oil Production Limit Increasing In April

The provincial government’s policy of matching oil production to export capacity is seeing a slight increase in April.

The GoA announced on Thursday, production will go up by 25,000 barrels per day next month, an overall increase of 100,000 barrels per day from the January limits.

The price differentiation remaining narrow and storage level volatility trending downwards are just some of the reasons for the limit changing.

Premier Rachel Notley says a short-term production limit is not ideal or sustainable, which is why they plan to move more oil by rain in the coming months.

“The decision to temporarily limit production was applied fairly and equitably, and our plan is working to stop allowing our resource to be sold for pennies on the dollar.”

The change is part of Alberta’s original goal of reducing production by an average of 95,000 barrels per day by the end of the year.
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