Market Snapshot: Canada sets new record in crude oil production in 2024 and first half of 2025

Release date: 2025-12-10

Canada continued to set new oil production records in 2024 and the first six months of 2025. Canadian production averaged 5.13 million barrels per day (MMb/d) of crude oil and equivalents in 2024, up from 2023’s record setting 4.93 MMb/d. The year finished with a new monthly record at 5.44 MMb/d in December 2024. Through June 2025, Canada oil production averaged 5.19 MMb/d; Canada averaged 5.01 MMb/d in the same period last year.

Figure 1: Oil Production by Province and Type

2024 provincial contributions of Canada's crude oil and equivalents volumes:

• Alberta, 83.6%
• Saskatchewan, 8.8%
• Newfoundland & Labrador, 4.1%
• British Columbia, 2.7%
• The rest of Canada under 1.0%

Key drivers and production trends

Alberta saw the largest year-over-year increase in 2024 production, with production up 4% (172,000 barrels per day (b/d)) driven by growth in non-upgraded bitumen. British Columbia’s output increased by 22% (25,000 b/d) while Newfoundland & Labrador’s production increased by 4% (8,700 b/d). Saskatchewan’s production slightly declined in 2024 by 1% (-5,000 b/d).

Since 2020, Canadian crude oil and equivalents production has increased steadily, setting new records each year. Alberta has led this growth, driven by oil sands production, while Saskatchewan and Newfoundland maintained smaller but consistent volumes. Canadian crude oil production remained on an upward trend in the first half of 2025 and has grown since the start-up of the Trans Mountain Expansion Project in May of 2024, with capacity now available on pipelines leaving the main producing areas in western Canada^Footnote 1.

Additional data is available at Estimated Production of Canadian Crude Oil and Equivalent and Crude Oil Export Summary.

Date modified:

2025-12-09