By Charles Lefebvre

Province increases oil production limits for April

Feb 28, 2019 | 4:21 PM

EDMONTON, AB — The province says they will be increasing oil production in April.

The announcement, which came in a news release from the province late Thursday afternoon, says Alberta will increase the production limit by 25,000 barrels in April, bringing the limit to 3.66 million barrels per day.

The number of barrels per day has increased by 100,000 since the province implemented production curtailment in January.

According to the release, several factors prompted the production increase, including warmer weather in the spring, which can increase transportation capacity without the need to add diluent into pipelines.

The province adds storage levels have shown some volatility, but adds they’ve moved down since January. In addition, the difference in price between Alberta heavy oil and U.S. mid-continent price remains narrow, according to the release.

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The province says by the end of the year, they hope to reduce oil production by an average of 95,000 barrels per day. The reduction is scheduled to be finished by the end of 2019.

Premier Rachel Notley recently signed agreements with Canadian Pacific and Canadian Nation railways to move oil by rail, which is expected to move 120,000 barrels of oil per day by 2020.