Province raises oil quotas for August as rail exports grow, storage levels slip

CALGARY- The UCP government says it will ease its oil production curtailment program by 25,000 barrels per day (bpd) in August.

The province is citing growing crude-by-rail capacity, declining oil inventory levels and improved efficiencies in export pipelines for the move.

Last week, the National Energy Board reported crude-by-rail exports in April reached 236,000 bpd, a 40% increase over March, but still down from the record high of 353,800 bpd in December.

The province says it is setting a production limit in August of 3,740,000 bpd, versus the initial January limit of 3,560,000 bpd.