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Morning Markets Everything you can have out there in the field is shutting due to the wildfires: Crescent Point CEO Craig Bryksa, president and CEO of Crescent Point Energy, discusses the wildfires raging in Alberta and how they are affecting oil and gas production. Volume 90% Crude production in Canada’s energy heartland fell to the lowest in seven years in June amid maintenance at oil-sands mines and as Suncor Energy Inc.’s output was partially excluded, according to Alberta Energy Regulator data. Alberta’s total oil output dropped 21 per cent to 2.71 million barrels a day, the lowest since June 2016, when oil-sands producers were recovering from wildfires that shut about a million barrels a day of capacity. The decline happened as AER data posted on the Petrinex website didn’t include June production from Suncor, which among Canada’s largest producers. The biggest decline in June was from oil-sands mines, which saw output plummet 48 per cent to 712,000 barrels a day. Total oil-sands output fell 25 per cent to 2.15 million barrels a day. Oil output was even lower than during the heart of the 2020 pandemic, when production was curtailed due to low prices. Suncor’s June production from wells, […]
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