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Alberta Eases Oil Production Limit as It Exports More Crude

  • Province raises production limit by 25,000 barrels a day
  • Shipments by rail rise and pipeline operators boost volumes
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Photographer: Ben Nelms/Bloomberg
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Alberta has relaxed the production limits it imposed on oil producers as it exports more barrels via rail and pipeline.

Easing the production limit by 25,000 barrels a day means that operators can now produce about 175,000 barrels a day below what they were producing late last year, just before the province imposed the cut to alleviate a glut caused by too much oil and too few pipelines. The bottlenecks caused local heavy oil prices to collapse to as much as $50 a barrel below the price of West Texas Intermediate futures in October.