Crude Oil Production in Canada increased to 5110 BBL/D/1K in July from 4848 BBL/D/1K in June of 2025. This dataset provides the latest reported value for - Canada Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Canada's daily oil production amounted to some *** million barrels in 2024, the highest figure reported by the North American country until now. This represents an increase of nearly **** percent in comparison to the previous year. Overall, between 1998 and 2024, Canada's oil production increased by over ***** million barrels.

Key information about Canada Crude Oil: Production

• Canada Crude Oil: Production was reported at 1,249.464 Barrel/Day th in Dec 2024
• This records an increase from the previous number of 1,226.811 Barrel/Day th for Dec 2023
• Canada Crude Oil: Production data is updated yearly, averaging 1,235.693 Barrel/Day th from Dec 1960 to 2024, with 65 observations
• The data reached an all-time high of 1,742.330 Barrel/Day th in 1973 and a record low of 563.836 Barrel/Day th in 1960
• Canada Crude Oil: Production data remains active status in CEIC and is reported by Organization of the Petroleum Exporting Countries
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.OPEC.CO: Crude Oil Production: Yearly

View yearly updates and historical trends for Canada Crude Oil Production. Source: Energy Information Administration. Track economic data with YCharts ana…

Canada's oil production amounted to ******million metric tons in 2024, up from around ***** million metric tons the previous year. A significant share of Canada's oil production occurs in the oil sands, mostly located in Alberta.

Supply and disposition characteristics such as production (fuels include heavy crude, synthetic crude, etc.), input to refineries, exports and others. The data are available at the national and provincial levels. Not all combinations necessarily have data for all years.

Canada has abundant resources of crude oil, with an estimated remaining ultimate potential of 52.3 106m³ (329 billion barrels) as of December 2017. Of this, oil sands account for 92 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada was the 4th largest producer in the world in 2018, it produces only about five per cent of total daily production, so it does not have a major influence on the world oil prices. In 2018, 96 per cent of Canadian crude exports went to the U.S. The Canada Energy Regulator regulates the export of crude oil. Holders of export authorizations report monthly statistics on export activities. This dataset provides historical export volumes of crude oil (by year and month), and by either type of oil or by destination of export.

In 2024, Canada imported 17.7 million metric tons of crude oil from the United States, which was the largest quantity Canada imported from any country. The U.S. is also Canada's most important trading partner when it comes to exporting its domestically produced crude. Canadian crude oil In 1858, the first oil deposit in North America was found in Ontario, Canada. Today, however, Canada’s largest crude oil production sites are in Alberta. Although Canada is a net exporter of crude oil, Canada also imports crude oil, as the majority of its crude production is heavy, bitumous oil. History of crude oil and its uses The beginning of the developed oil industry can be traced back to 1837 in Baku, Azerbaijan, where the first oil refinery was created. Seven years later, came the first modern oil well. This oil well accounted for more than 90 percent of the world’s oil production. More commercial oil wells were gradually developed in Poland, Romania, Canada, and the United States. The first major oil company was the Standard Oil Company, created by John. D. Rockefeller. Crude oil is refined into petroleum products, which are then used as transportation fuels, to heat homes, and produce other chemical products such as plastics.

The Canada Energy Regulator (CER) and Statistics Canada have combined expertise to put together a 30-year look back at the evolution of Canadian crude oil exports. This retrospective highlights some of the factors that influenced the trends in Canadian crude oil exports, coupled with other key indicators, including impacts on Canadian balance of trade, crude oil production, and industry investment. These datasets provide historical Canadian crude oil production, export and import values, investment, trade balance and export values for products categorized by NAPCS Group Codefor 1991 to 2019. These data were compiled by the Canada Energy Regulator and Statistics Canada.

In September 2025, the average monthly price of the Canadian oil benchmark Western Canadian Select amounted to ******U.S. dollars per barrel. This was a slight decrease compared to the previous month. Western Canadian Select is a heavy sour blend of crude oil, produced exclusively in Western Canada. The importance of Canada’s oil sands Not only are the oil sands a vital part of the Canadian energy industry, they play a large part in the national economy as well. In 2024, the oil sands extraction industry contributed nearly 40 billion Canadian dollars to Canada's GDP. This represented a share of **** percent of the total GDP. Furthermore, they are the largest single source of oil exports to their neighbors to the south, the United States. Oil sands are a combination of sand, water, and bitumen, and therefore a more expensive source of crude oil than conventional oil as oil sands require extensive processing. Meanwhile, that same year the contribution of conventional crude oil and gas extraction stood at **** billion Canadian dollars, which translated to **** percent of total GDP. Canada’s main oil export partner remains the U.S. In 2024, Canada’s oil exports amounted to over *** million barrels per day. This was a historical high and represented more than twice the amount exported in 2005 thanks to oil sand exploration. The United States is Canada’s main oil destination market, receiving *** million metric tons in 2024. Far in second place came China, with *** million metric tons exported there that same year.

Canada has abundant resources of crude oil, with an estimated remaining ultimate potential of 52.3 106m³ (329 billion barrels) as of December 2017. Of this, oil sands account for 92 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada was the 4th largest producer in the world in 2018, it produces only about five per cent of total daily production, so it does not have a major influence on the world oil prices. In 2018, 96 per cent of Canadian crude exports went to the U.S. The Canada Energy Regulator regulates the export of crude oil. Holders of export authorizations report monthly statistics on export activities. This dataset provides historical export volumes of crude oil (by year and month), and by either type of oil or by destination of export.

Historical oil production by country refers to the amount of oil produced by different countries over time. This article provides insights into the oil production of key countries such as the United States, Russia, Saudi Arabia, China, Canada, Iraq, Iran, Venezuela, Norway, and the United Arab Emirates. It discusses the significance of oil production as an indicator of a country's energy resources and its economic and geopolitical implications. The article also highlights the factors influencing oil pr

Cash-Conversion-Cycle Time Series for International Petroleum Corp. International Petroleum Corporation explores for, develops, and produces oil and gas. It holds a portfolio of oil and gas production assets and development projects in Canada, Malaysia, and France. The company was incorporated in 2017 and is based in Vancouver, Canada.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

On December 19, 2022, WCS prices closed at ***** U.S. dollars per barrel. This was an increase compared to the previous week. Crude oil prices reached over 100 U.S. dollars on March 7 and May 16, following concerns by market traders over tight supplies as a result of the Russia-Ukraine war. Western Canadian Select is the main benchmark for crude oil produced from oil sands in Alberta. It usually trades at around ** U.S. dollars below WTI - which is the reference price for crude oil originating in the United States.

The Peel Plateau and Plain in Yukon is a potentially prospective petroleum province that lies north of the Mackenzie Mountains and east of the Richardson Mountains up to the inter-territorial boundary. The area contains a Lower Cambrian to Upper Cretaceous stratigraphic succession up to approximately 4.5 km thick. Nineteen exploratory wells have been drilled within the region without economic reserves or production, but with some petroleum shows. A probablilistic petroleum resource assessment suggests that there is a significant potential for natural gas throughout the region. In general, petroleum potential is inferred to decrease both westward, and with increasing depth and stratigraphic age. The small size of gas pools will be an impediment to their development because of their location. No crude oil potential can be estimated due to an inferred lack of oil-prone sources in strata of suitable maturity. Where previous work speculated that the history of petroleum systems in the Peel Plateau and Plain was distinctive from that of surrounding regions that are suitably characterized, this work finds no justification for such a distinctive petroleum system history. The resulting undiscovered potential is, therefore, considered to be consistent with the results of the exploration history.

View monthly updates and historical trends for Canada Real GDP by Industry: Oil and Gas Extraction. Source: Statistics Canada. Track economic data with YC…

Operating-Return-On-Assets Time Series for Canadian Natural Resources Ltd. Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO). Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.

Ebit Time Series for Advantage Oil & Gas Ltd.. Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. The company was formerly known as Advantage Oil & Gas Ltd. and changed its name to Advantage Energy Ltd. in May 2021. Advantage Energy Ltd. was founded in 2001 and is headquartered in Calgary, Canada.

Change-In-Working-Capital Time Series for Advantage Oil & Gas Ltd.. Advantage Energy Ltd., together with its subsidiaries, engages in the acquisition, exploitation, development, and production natural gas, crude oil, and natural gas liquids (NGLs) in the Province of Alberta, Canada. The company was formerly known as Advantage Oil & Gas Ltd. and changed its name to Advantage Energy Ltd. in May 2021. Advantage Energy Ltd. was founded in 2001 and is headquartered in Calgary, Canada.