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Sep 27, 2024 · The data sources and calculations used are described in the Excel file on the first worksheet. Forecasted values are no longer available in this publication. For the latest projections of crude oil and natural gas production in Canada please visit the Canada’s Energy Future main page.
- 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.
This chart shows production from four types of oil sands production from 2010 to 2050. Primary + EOR production declines from 191 Mb/d in 2010 to 128 Mb/d by 2050. Mining production grows from 857 Mb/d in 2010 to 1 479 Mb/d in 2050.
Jan 26, 2022 · The CPS projects Canadian production to peak approximately 34% above anticipated 2021 output in 2044, followed by a modest decline that will still be 32% above 2021 levels in 2050. Why is oil production so resilient under these scenarios?
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, the...
Dec 31, 2019 · Canada Oil Production is at a current level of 5.653M, up from 5.575M one year ago. This is a change of 1.40% from one year ago.
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Conventional oil production decreases from 816 Mb/d in 2010 to 428 Mb/d in 2050. Tight oil production is 117 Mb/d in 2010 and is 111 Mb/d in 2050. Shale oil begins production in 2012 and increases to 18 Mb/d in 2050.
