Canada’s biggest integrated oil and gas firm Suncor Energy said on Monday that its total upstream production set a quarterly record of 831,000 barrels of oil equivalent per day (boed) in the fourth quarter of 2018, just ahead of Alberta’s oil production cuts of 325,000 bpd beginning January 1. Suncor Energy’s upstream production in Q4 jumped by 12 percent compared to the third quarter, reflecting “significant investment developing Fort Hills, and Suncor’s ongoing operational excellence focus across its assets, particularly at the Syncrude joint venture,” the company noted. Suncor Energy’s oil sands operations produced some 433,000 bpd in Q4. While Suncor and other Canadian producers were lifting oil production last year, takeaway capacity constraints and maintenance at U.S. refineries in the fall of 2018 drove down the price of Western Canadian Select (WCS) —the benchmark price of oil from Canada’s oil sands—as low as $14 a barrel in October […]