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
11 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
10 April 2025
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
