Canadian Oil Sands Set for 15% Output Boost Says S&P Global

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Canadian Oil Sands Set for 15% Output Boost Says S&P Global
Oil ProductionOil SandsCrude Oil
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As Canadian oil sands companies pour money into optimization and efficiency, S&P Global Commodity Insights has upgraded its 10-year output for a 15% increase in oil sands production by 2030.

As Canadian oil sands companies pour money into optimization and efficiency, S&P Global Commodity Insights has upgraded its 10-year output for a 15% increase in oil sands production by 2030. In a Thursday report, S&P Global said it now expected Canadian oil sands to produce 3.8 million barrels per day by 2030–or 500,000 barrels per day more than currently–due to optimization efforts.

'Oil sands production continues to grow despite concerns about the advancing federal oil gas emissions cap's potential impact on production,' Celina Hwang, Director, North American Crude Oil Markets, S&P Global Commodity Insights, said in a press release.

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