IHS has released its outlook for Canadian oilsands production through 2025. The company predicts continued oilsands production growth through the period, with oilssands growth entering a new phase driven primarily by the expansion of existing facilities with more attractive economics.
Oilsands production is forecast to grow by nearly one million bpd by 2025 – significant pace of growth that, though lower than historical levels, will keep Canada among the largest sources of global oil supply growth. Canada is part of the ‘G-5+2’ – group of low-cost Middle East oil-producing countries (the Gulf-5) plus the United States and Canada. Collectively, they will account for most of the world’s oil supply growth.
An analysis of the new IHS oil sands production forecast by Kevin Birn, director for IHS Energy, is available at the IHS Energy Blog.
Adapted from a press release by Louise Mulhall
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/28062016/ihs-forecasts-production-growth-of-one-million-bbls-by-2025/