Canada produced about 12 million barrels of crude oil and equivalent products in May. Statistics Canada says that was down 12.8 per cent from the same month a year ago. It also followed a 10.7 per cent decline in April. The decrease in May was the result of voluntary production cuts imposed by producers in response to reduced economic activity during the pandemic. Light and medium crude oil and equivalent products were down year over year in May, mainly due to declines in Alberta and Saskatchewan. Total deliveries of natural gas in Canada fell 4.3 per cent year over year. That was primarily due to lower demand in industrial, and commercial and institutional sectors. Deliveries to residential consumers were off 2.2 per cent, mainly due to lower demand in Saskatchewan and Alberta.
Oil and Natural Gas Declines
Aug 4, 2020 | 7:38 AM















