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Suncor’s Edmonton refinery
Canada Upstream
Vincent Lauerman
Calgary
11 March 2024
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Canadian crude oil’s last big push

Oil sands set to provide growth over next few years, but infrastructure and policy hurdles could stifle momentum further out

Canada’s crude oil production has skyrocketed since the turn of the century, rising from under 2m b/d to an estimated 4.9m b/d last year, while information provider S&P Global Commodity Insights is projecting it to jump another 500,000b/d over the next two years—the bulk of which will come from the oil sands (see Fig.1). But this could be the “last big push” for Canadian production, with output basically plateauing as of mid-decade because of a slowdown in Western Canadian supply growth in general, and oil sands growth in particular, according to Kevin Birn, S&P's chief analyst for Canadian oil markets. Western Canada dominates Canadian crude oil production, accounting for almost 95%

Also in this section
Old hands dominate Algeria’s upstream auction
24 June 2025
The country’s latest licensing round attracted bids from IOCs and NOCs in a better showing than its last outreach to bidders
Angola’s oil industry revamp
24 June 2025
Africa’s second-largest oil producer is creating the right conditions for the sector to try to boost output, explains Ian Cloke, COO of UK-based Afentra
ADNOC targets Santos in big LNG push
24 June 2025
The takeover, if it gets the all-clear from regulators and other government authorities, would propel XRG and its parent firm ADNOC into the top tier of global LNG players
Oil demand ramps up air miles
23 June 2025
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks

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