Saskatchewan's first commercial crude oil discovery was made in 1944. Many of the major pools in the province were discovered as a result of an intensive exploration effort in the mid 1950's and early 1960's.

Saskatchewan is the second largest oil producer in Canada after Alberta. The province produces more than 20 per cent of total Canadian oil production.

About 24 per cent of Saskatchewan's production is currently used within the province. Approximately 63 per cent of Saskatchewan's production is exported to the United States. The remainder of Saskatchewan's production is sold in Eastern Canada with a minor amount of heavy oil sold in Alberta. Prices are largely determined by the crude oil market in Chicago.

Direct and indirect employment associated with Saskatchewan's oil industry (excluding refining, upgrading, and natural gas activity) now accounts for over 12,000 jobs.

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