Finding the sweet spot: Canadian conventional oil
The oil sands get most of the attention and investment, but there is life in the country's oil sector beyond bitumen
After decades of decline, Canada's ageing oilfields have been revived by advances in horizontal drilling and hydraulic fracturing. Output tripled to around 1.4m barrels a day by 2015, up from 460,000 b/d in 2010, according to the Canadian Energy Research Institute (Ceri)—an industry-funded think tank. According to the National Energy Board (NEB), the country's regulator, that's the highest level of conventional output since 1972. Horizontal drilling and fracking are helping producers lift recovery rates on many old oilfields that had historically only been able to get about 15% of the original oil in place out of the ground. The Alberta Energy Regulator (AER) estimates that some 1.14bn barre
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
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
