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Canada produced 15.7 million cubic metres (98.8 million barrels) of crude oil and equivalent products in June, down 9.3% compared with the same month in 2015. Production of synthetic crude oil decreases In June, the year-over-year decline in the production of crude oil and equivalent products was led by synthetic crude oil, down 36.7% from June 2015 to 2.8 million cubic metres. This decline was attributable to the northern Alberta wildfire in May, as well as ongoing maintenance at oil sands facilities. Production of light and medium crude oil fell 10.4% to 3.3 million cubic metres in June, while heavy crude oil declined 3.9% to 1.9 million cubic metres. These declines were partially offset by increased production of non-upgraded crude bitumen, up 3.2% to 6.4 million cubic metres. Alberta produced 12.3 million cubic metres of crude oil and equivalent products in June, down 11.5% from the same month in 2015. Alberta accounted for 78.5% of Canada''s total production in the month. Exports and imports Exports of crude oil and equivalent products totalled 13.3 million cubic metres in June, down 1.7% from June 2015. Meanwhile, imports to Canadian refineries decreased 3.6% to 2.9 million cubic metres. Inventories Closing inventories of crude oil and equivalent products totalled 17.9 million cubic metres in June. Closing inventories held by pipelines and terminals were 11.4 million cubic metres, while those from fields and plants totalled 2.8 million cubic metres, and those held at refineries were 3.7 million cubic metres. Quarterly changes in crude oil Compared with the same quarter a year earlier, production of crude oil and equivalent products was down 7.2% in the second quarter to 47.7 million cubic metres. This was the lowest second quarter production since 2013. The wildfire in Alberta contributed to the quarterly drop in production. Over the same period, exports declined 2.3% to 41.4 million cubic metres, while imports to Canadian refineries increased by 2.7% to 9.3 million cubic metres. Natural gas Canadian marketable production of natural gas totalled 12.9 billion cubic metres in June. Additional information on natural gas is available in Natural gas transmission, storage and distribution, published in The Daily on August 23, 2016. |
