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- The CER said a rebound in oil prices after the pandemic-related crash last year meant more near-term investment would help production grow quicker than previously anticipated, before it starts to slowly decline to 4.8 million bpd by 2050.
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Dec 9, 2021 · CALGARY, Alberta, Dec 9 (Reuters) - Oil output in Canada, the world's fourth-largest producer, will climb over the next decade and peak at 5.8 million barrels per day (bpd) in 2032, seven...
Dec 9, 2021 · Oil output in Canada, the world's fourth-largest producer, will climb over the next decade and peak at 5.8 million barrels per day (bpd) in 2032, seven years sooner than previously forecast,...
- Crude oil price. The price of crude oil is the most important factor that drives production and investment in the oil and gas extraction sector. Chart 1 presents movements in two of the most relevant crude oil prices for Canada, the WTI and the Western Canadian Select (WCS) from January 2019 to February 2021.
- Production and employment. Chart 2 presents monthly production and employment in the oil and gas extraction industry and in all industries as a whole from January 2019 to April 2021.
- Crude oil and merchandise exports. The global value chain and, therefore, merchandise exports have been greatly affected by the pandemic because of declining demand.
- Capital expenditures. Capital expenditures in oil and gas extraction are highly related to crude oil price. Lower oil prices will drive down the profit level of oil and gas extraction and ultimately discourage investment in the industry, and this will affect its production capacity in the long term.
Canada’s Energy Future 2021: Energy Supply and Demand Projections to 2050 (EF2021) is our latest long-term energy outlook. Scenario Overview. In the long term, global and Canadian ambition to reduce greenhouse gas (GHG) emissions will be a critical factor in how energy systems evolve.
(Bloomberg) Canada’s oil production will rise for the next decade and then start declining as countries strive to curb greenhouse gas emissions, potentially reducing revenues from the country’s biggest export.Output at the world’s fourth-largest oil producer will climb to 5.8 million barrels a day by 2032, from 5 million this year,…
Sep 7, 2021 · Input of crude oil to Canadian refineries was up 15.1% year over year in June, while refinery capacity utilization increased to 86.7%, the highest level since December 2019 (88.0%). As a result, net production of finished petroleum products rose 14.9% year over year to 9.2 million cubic metres in June, primarily on increased production of ...
Feb 7, 2022 · According to the US Energy Information Administration, consumption of crude oil in Canada rose 2.1% in November. Exports of crude oil and equivalent products dropped 5.0% to 18.6 million cubic metres in November.
