June 18, 2024 14:54 GMT
Canadian Oil Production Could Rise 3-5% Annually: BNEF
OIL
The startup of the Trans Mountain Expansion pipeline could help fuel Canadian oil production growth in 2024-26, according to BNEF.
- Canada’s oil output rose by a compound annual rate of 3.6% over the last decade, while Suncor, Cenovus, and Imperial Oil may be able to grow at a slightly faster pace in 2024-26.
- Suncor indicates production of 770k-810k b/d. Based on Q1’s 835k b/d, up 13% on the year, and thus BNEF estimate that the top end of full-year guidance is achievable.
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