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Oil Drop Fails to Halt Alberta Oil Sands Amid Record Output

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Alberta’s oil production rose to a record in October and further gains are forecast this year as plunging prices fail to slow oil sands expansions.

Canada’s biggest oil province produced 2.9 million barrels a day of crude, raw and upgraded bitumen and condensate, the most in data stretching back to 2007 and a 13 percent increase from a year earlier, the Alberta Energy Regulator said yesterday. Alberta will produce 3.05 million barrels of oil a day by the end of this year, Carl Evans, Boulder, Colorado-based crude oil analyst at Genscape Inc., said in an instant message.