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Oilsands production is forecast to exceed 3.5 million barrels a day (b/d) by 2030, 17 per cent more than this year, but down 100,000 (b/d) from a 2021 outlook. Article content Good Morning! Article content Oilsands CEOs are likely having an ‘I told you so’ moment after a major energy research group predicted that emission cuts, among other factors, will result in some oil staying in the ground. S&P Global Commodity Insights forecasts that oilsands production is expected to rise over the next decade by about half a million barrels a day. But before you get excited, that “substantial” increase is a drop from previous forecasts, according to the new analysis. The energy and commodities research company said oilsands production will exceed 3.5 million barrels a day (b/d) by 2030, 17 per cent more than this year, but down 100,000 (b/d) from its forecast last year. “The Russian invasion of Ukraine has heightened interest in the ability of Canada — and (the) oilsands specifically — to contribute more crude supply to the global oil market,” said Kevin Birn, Canadian oil markets chief analyst at S&P Global Commodity Insights. “While this has increased the incentive to raise oilsands production in […]
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