Alberta to increase crude output limits for May and June [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
Alberta to increase crude output limits for May and June The Canadian oil-producing province of Alberta will increase crude production limits by 25, barrels per day in May and a further 25, bpd in June, the government said on Monday. The increases mean that by June, oil companies will be limited to 3.71 million bpd of production. Alberta mandated production cuts this year to ease congestion on export pipelines that resulted in crude getting bottlenecked in storage and the discount on Canadian heavy crude widening to record levels. Story continues below advertisement “This temporary policy has been critical to reducing the oil price differential while we move ahead with our medium-term plan to ship more oil by rail and lead the long-term charge for new pipelines as we fight to get full value for the resources owned by all Albertans,” Premier Rachel Notley said in a statement. The government said the increase in production limits comes as warmer weather reduces the amount of diluent nee
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