Canada oil sands output poised for 41 percent increase

RIGZONE | IHS Markit recently projected that Canada's oil sands production should hit nearly 3.8 million barrels per day (bpd) in 2030, representing a nearly 1.1 million-bpd increase from current levels.

Although this year's decline in oil sands output tied to the “COVID-19 Shock” will be unprecedented and approach 175,000 bpd, IHS Markit contends the trajectory of oil sands production over the next decade should change little compared to pre-pandemic expectations. In fact, the firm pointed out in a written statement emailed to Rigzone that the 3.8 million-bpd projection for 2030 is just 2.6 percent lower than its pre-pandemic forecast of 3.9 million bpd.

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