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World Oil Supply

OPEC Monthly Oil Market Report – November 2017

49

Table 5 - 6: US rotary rig count on 3 November 2017

Canada

Canada’s liquids output

in July increased by 0.24 mb/d m-o-m to average 4.83 mb/d, still 0.21 mb/d below

the peak reached in February of 5.04 mb/d. July’s output was higher by 0.31 mb/d, y-o-y. Oil production

recovered within four months of the wildfires in 2016, whereas production has not yet recovered from this

year’s wildfire in the Syncrude Mildred Lake plant in mid-March. Non-conventional liquids output including oil

sands increased by 0.2 mb/d m-o-m to average 2.73 mb/d, while the average output in January and

February 2017 before the wildfire was 2.85 mb/d. Preliminary production data in August shows that the

output level has not reached this level yet, although the 350 tb/d Mildred Lake plant was expected to return

to full production by August. Moreover, the Hangingstone project was expected to start up in early August.

The project, located in Alberta, consists of steam-generating equipment, well pad facilities, 32 well pairs,

water treatment services and bitumen flowlines. It is expected to reach a peak production rate of

approximately 20 tb/d in 2018.

Conventional crude oil declined in July by 26 tb/d to average 1.19 mb/d, which is 26 tb/d lower over the

average output in 1H17, while NGLs production in July increased by 69 tb/d to reach 0.91 mb/d. Liquids

output for 2Q17 was revised down while 3Q17 and 4Q17 were revised up following preliminary indications on

the back of the new oil sands projects development. Some upgraders underwent maintenance in 3Q17, such

as Scotford in July and Horizon starting in September.

Graph 5 - 14: Canada production by crude type

Graph 5 - 15: Canada production by crude type,

y-o-y change

3 Nov 17 Month ago Year ago M-o-m Y-o-y Y-o-y, %

Oil and gas split

Oil

729

748

450

-19

279

62%

Gas

169

187

117

-18

52

44%

Location

Onshore

880

914

548

-34

332

61%

Offshore

18

22

21

-4

-3

-14%

Basin

Williston

48

50

37

-2

11

30%

Eagle Ford

60

62

30

-2

30

100%

Permian

380

383

218

-3

162

74%

Drilling trajectory Directional

73

79

52

-6

21

40%

Horizontal

764

792

459

-28

305

66%

Vertical

61

65

58

-4

3

5%

US total rig count

898

936

569

-38

329

58%

Sources: Baker Hughes and OPEC Secretariat.

Change

0.8

1.3

1.8

2.3

2.8

3.3

Oct 11

Apr 12

Oct 12

Apr 13

Oct 13

Apr 14

Oct 14

Apr 15

Oct 15

Apr 16

Oct 16

Apr 17

Oct 17

mb/d

Synthetic crude + Crude bitumen

Conventional

Source: OPEC Secretariat.

-0.5

-0.3

-0.1

0.1

0.3

0.5

0.7

0.9

Oct 11

Apr 12

Oct 12

Apr 13

Oct 13

Apr 14

Oct 14

Apr 15

Oct 15

Apr 16

Oct 16

Apr 17

Oct 17

mb/d

Conventional

Synthetic crude + Crude bitumen

Source: OPEC Secretariat.