Canada on track to reach record oil production growth, analysts say

https://tnc.news/2023/08/23/record-oil-production/

Energy analysts are predicting that Canada will reach record growth when it comes to the production of Canadian crude oil over the next two years.

Largely driven by oil sands production, Canada is expected to add 8% to total oil output by 2025.

That amounts to an increase of 375,000 barrels per day which is more than the sector has been able to grow over the past five years combined.

Canada Energy Regulator data shows that last year Canada produced an average of 4.86 million barrels per day, with predicted growth that figure should reach 5 million by 2025.