Canada to play key role in oil supply growth
Oil sands will be complemented by conventional and shale output growth and supply opportunities improved by the Trans Mountain Pipeline, but the tariff threat remains
Canada has been a secure and reliable supplier of oil not only for the US but also for other parts of the world. As the world’s fourth-largest oil producer, it plays a key role in the global market. The country’s oil output averaged well above 5.7m b/d in 2024, according to the Canadian Association of Petroleum Producers. Despite President Donald Trump’s threat of tariffs against Canada, oil producers remain optimistic about output this year, with conservative estimates showing an increase of around 300,000b/d. Oilfield industry association Enserva estimated at the end of last year that upstream spending in the Canadian oil and gas industry could reach $40b in 2025, which would be an increas
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
