Canadian oilsands growth will help overall crude output to rise through 2025

摘要

According to a new study from the Canadian Energy Research Institute,Canadian crude production is set to rise by 1.4MM b/d to 2025 due to rising Albertan oilsands output,before declining by 1.3MM b/d to year-end 2039 due to falling production in Newfoundland and Labrador.Total production of pentanes plus and condensate will rise from 418K b/d this year to 604K b/d by 2039,driven by diluent demand from the oilsands and gas drilling in liquids-rich areas.The study does assume that Canadian crude production will be propped up by relatively stable demand from domestic refineries,additional pipeline exports to central Canada to displace crude imports,and additional exports via the Trans Mountain pipeline.