Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Canada’s energy superpower ambition
The new government is talking and thinking big, and there are credible reasons to believe it is more than just grandstanding
CER provides narrow view of Canada’s oil production future
The worst possible future for the country’s oil producers goes underexplored in scenario planning
Suncor unshackles oil sands
Output scaled up as company eyes falling breakeven and billions in additional cash
Licensing round December update
The industry's most comprehensive list of current and recent rounds for onshore and offshore licences
Oil sands producers keep the reins tight
No extravagant spending is planned ahead of a capital-intensive push towards a lower carbon footprint
Letter from Canada: Kenney hits accelerator along dead-end road
Positive CCS dialogue highlights an alternative path if the populist provincial leader can stomach it
Letter from Canada: The oil sands revolution has begun
Oil Sands Pathway offers sector renewed long-term hope
Letter from Canada: Net zero poses existential threat to oil sands
Oil sands producers will need to make drastic changes if they are going to survive the next few decades
Suncor makes net-zero pledge
Investor pressure convinces Canadian company to confront emissions, but upstream growth remains focus
Canadian oil sands in shackles
Producers tighten their belts even as financial conditions rally and midstream expansion looms
Suncor’s Edmonton refinery
Canada Upstream
Vincent Lauerman
Calgary
11 March 2024
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

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
Momentum builds for Alaska LNG
12 June 2025
Asian and European interest gathers pace as Trump throws his weight behind frontier state
Indonesia’s upstream picks up the pace
12 June 2025
The government is optimistic that increasing offshore activity and exploration will help revive flagging production, despite energy security fears
Letter from the US: Energy needs require a rethink
12 June 2025
Tariffs, AI, critical minerals and emerging markets all raise fundamental policy questions
Petroleum Economist: June 2025
12 June 2025
The June 2025 issue of Petroleum Economist is out now!

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search