Alberta to allow increased production of 25,000 barrels of oil per day in April; eases mandatory production cuts

Due to lower storage levels, Premier Rachel Notley of Alberta announced the province would ease the mandatory oil production cuts and allow an increase in production of 25,000 barrels per day in April. In December of last year, the government ordered production of crude oil and bitumen to be cut 325,000 barrels per day as a strategy to throttle lowering prices.

Previously, on January 30, 2019, the government announced increased production of 75,000 per day. The reasoning is that storage levels are dropping.

“As we fight to get full value for the resources owned by all Albertans, we know that our plan is working as we continue to reduce the amount of oil we have in storage,” Notley said. “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.”

Did you miss this?

Other Popular Stories

  • Drone use by business set to explode, worth $127B by 2020: PwC
  • Irving Shipbuilding looking to lure workers back east from Alberta
  • Bombardier to hit business jet targets: aiming for US$8.5 billion annually by 2020
  • Subsidies part of the game in global aerospace industry
  • Elon Musk's green vision extends to the Tesla Semi, capable of hauling 80,000 pounds for up to 400 miles on a single 30 minute charge
  • Outperforming auto sector leads manufacturing "resurgence"
  • Magna producing first all-olefin liftgate assembly for Nissan Rogue
  • Will Ukraine be Canada's next big oil market?
  • Scientists claim 30 per cent improvement in solar cell efficiency
  • Ontario government accepts mining report recommendations
  • Thunder Child, the unsinkable boat? Self-righting, wavepiercing interceptor engineered to be the perfect boat for offshore patrol
  • Oil supply rising even as demand growth falls; investment likely to be slashed further in 2017
  • Detect lung cancer with a nanotech breathalizer? It works, four out of five times, could revolutionize cancer screening
  • Ontario trade mission to Korea focused on nuclear industry
  • Researchers find way to turn wood into supercapacitors
  • Ontario exports to lead country in 2016, mainly on demand for cars and parts
  • Bombardier Transportation workers ratify contract
  • Toyota celebrating 50 years in Canada with Special Edition Corolla S
  • Small business tax rate cut to 3.5 percent will only partially mitigate impact of minimum wage increases, both set for January 1 in Ontario
  • Plastics use in cars to nearly double in four years: report
Scroll to Top