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Updated June 2023


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Production: Raw bitumen production increased by 1.8 per cent in 2022 to 527.1 thousand cubic metres per day (103 m3/d) or 3317.1 thousand barrels per day (103 bbl/d). In 2022, mined bitumen production increased by 1.6 per cent to 257.1 103 m3/d, and in situ production increased by 2.1 per cent to 270.0 103 m3/d.

 By 2032, total raw bitumen production is forecast to increase to 640.3 103 m3/d (4029.0 103 bbl/d). The anticipated pace of production growth over the forecast is slower than what it has been over the past decade. However, future production growth is supported by oil prices and increasing transportation takeaway capacity. Continued consolidation of operators and the growing importance of environmental, social, and governance criteria will also impact future production growth.

Number of wells: Following production trends, the number of producing wells increased by 2.9 per cent to 11 830 in 2022.

Demand: Total Alberta refinery demand in 2022 (including upgraded and nonupgraded bitumen, crude oil, and pentanes plus) was 85.9 103 m3/d (540.6 03 bbl/dd). Marketable bitumen (upgraded and nonupgraded bitumen) accounted for 62.6 103 m3/d (394.0 103 bbl/d), or 73 per cent, of the total Alberta refinery demand. The remaining marketable bitumen was removed from the province. Alberta refinery demand for marketable bitumen is expected to increase slightly over the first few years of the forecast as the Sturgeon Refinery reaches its nameplate capacity. After this initial period, the forecast will remain steady with consistent refinery throughputs. Removals are projected to increase throughout the forecast period.