The amount of oil in storage in Alberta rose in February, monthly data shows, de...
CALGARY, Alberta - The amount of oil in storage in Alberta rose in February, monthly data shows, despite moves by the government of Canada’s largest crude-producing province to reduce inventories by imposing curtailments on production.
Alberta had 72 million barrels of oil in inventories at the end of February, according to data from the Alberta Energy Regulator, an increase of 3.9 million barrels from the end of January. That means during the first two months of the year storage inventories only dropped by 2.3 million barrels. Alberta is in the midst of a general election campaign, and Cheryl Oates, spokeswoman for the ruling New Democratic Party’s campaign, said the government used data from a third-party energy data firm to track crude storage levels.
Canadian crude by rail volumes hit a record high of 354,000 barrels per day in December, according to Canadian regulator the National Energy Board, before declining.
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