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1. • • In 2024, Canada could be the largest source of growth in global crude oil production. The country's expected jump in oil output of about 500,000 bpd is higher than the 400,000 bpd projected growth in the U.S.
     www.cbc.ca/news/canada/calgary/bakx-oil-production-s-p-record-1.6993102

     Canada could lead the world in oil production growth in 2024

2. People also ask

   Could Canada be the largest source of increased oil supply in 2024?

   • Barring any unforeseen circumstances, Canada could be the largest source of increased oil supply across the globe in 2024. Canada should be able to capitalize on higher prices paid for our oil as well as the forthcoming ability to get Western oil reaching international markets.

   TD Economics - 2024 Canadian Oil Production: A Short-Lived Boom

   economics.td.com/ca-oil-production-2024

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   Which country will grow the most crude oil in 2024?

   • In 2024, Canada could be the largest source of growth in global crude oil production. The country's expected jump in oil output of about 500,000 bpd is higher than the 400,000 bpd projected growth in the U.S. Elsewhere, production increases in Guyana and Brazil could result in growth of about 400,000 bpd from Latin America next year.

   Canada could lead the world in oil production growth in 2024

   www.cbc.ca/news/canada/calgary/bakx-oil-production-s-p-record-1.6993102

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   What was Canadian crude oil production in 2023?

   • Synthetic crude oil (+4.6% to 70.9 million cubic metres) was the main contributor to the overall growth of annual Canadian crude oil production in 2023. Meanwhile, production of crude bitumen, which is also a feedstock for synthetic crude, was up 0.6% year over year to 116.5 million cubic metres in 2023.

   Record high crude oil production largely driven by oil sands: Crude oil

   www.statcan.gc.ca/o1/en/plus/5781-record-high-crude-oil-production-largely-driven-oil-sands-crude-oil-year-review-2023

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   Why did oil production increase in 2023?

   • The overall increase in 2023 was largely driven by production from the oil sands (+2.1%). In the second quarter, planned turnarounds in the oil sands coincided with wildfires across swathes of Western Canada, although the fires’ impact on crude oil production was minimal.

   Record high crude oil production largely driven by oil sands: Crude oil

   www.statcan.gc.ca/o1/en/plus/5781-record-high-crude-oil-production-largely-driven-oil-sands-crude-oil-year-review-2023

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   Why did Canadian oil prices peak in September 2023?

   • Coinciding with some of these turnarounds in the third quarter, Canadian prices for crude oil and bitumen peaked in September 2023. Crude oil producers ramped up output at the end of the year in preparation for the upcoming completion of the Trans Mountain pipeline expansion, which will increase export capacity in 2024.

   Record high crude oil production largely driven by oil sands: Crude oil

   www.statcan.gc.ca/o1/en/plus/5781-record-high-crude-oil-production-largely-driven-oil-sands-crude-oil-year-review-2023

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   Which Province imports the most crude oil in 2023?

   • New Brunswick continued to import the most crude oil of all provinces in 2023. Canada’s largest refinery, the Irving Refinery in Saint John, is not connected to crude oil pipelines, so it relies on marine shipments for its crude oil feedstock. New Brunswick imports have been fairly consistent since 2020, averaging about 263 Mb/d.

   Market Snapshot: Crude oil imports rose slightly in 2023, for the first

   www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2024/market-snapshot-crude-oil-imports-rose-slightly-2023-first-time-since-2019.html

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3. economics.td.com › ca-oil-production-20242024 Canadian Oil Production: A Short-Lived Boom - TD

   economics.td.com › ca-oil-production-2024

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   Mar 7, 2024 · Barring any unforeseen circumstances, Canada could be the largest source of increased oil supply across the globe in 2024. Canada should be able to capitalize on higher prices paid for our oil as well as the forthcoming ability to get Western oil reaching international markets.

4. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Canada’s oil pipeline capacity in 2024

   www.cer-rec.gc.ca › en › data-analysis

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   May 8, 2024 · Market Snapshot: Canada’s oil pipeline capacity in 2024. Release date: 2024-05-08. Crude oil production has been growing in western Canada, with Alberta hitting record-high production of 4.53 million barrels per day (MMb/d) in December 2023.

5. www.statcan.gc.ca › o1 › enRecord high crude oil production largely driven by oil sands ...

   www.statcan.gc.ca › o1 › en

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   Mar 7, 2024 · Based on the latest available international data (2022), Canada remained among the top four oil producers worldwide. Geopolitical conflicts continued to cause uncertainty in the crude oil markets in 2023, although prices subsided from the elevated levels of 2022.

6. www.pressreader.com › canada › cbc-editionCanada could lead the world in oil production growth in 2024

   www.pressreader.com › canada › cbc-edition

   Oct 12, 2023 · Canada's oil production is set to jump by about 10 per cent over the next year and become one of the largest sources of in‐ creased supply around the world. The country produces about 4.8 million barrels per day (bpd) of crude and that figure could climb by about 500,000 bpd to about 5.3 mil‐ lion bpd by the end of 2024, according to S&P ...

7. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Crude oil imports rose slightly in 2023, for ...

   www.cer-rec.gc.ca › en › data-analysis

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   Jun 12, 2024 · The United States (U.S.) continues to be the largest source of Canada’s imported crude oil. In 2023, 72.4% of Canada’s oil imports originated from the U.S., compared to 72.0% in 2022 and 65.7% in 2021.

8. globalnews.ca › news › 10005868Canadian oil output to hit new heights within 2 years: report

   globalnews.ca › news › 10005868

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   Oct 4, 2023 · The coming startup of the Trans Mountain pipeline will help boost Canadian oil production to an all-time high within the next two years, according to a new report.