S&P Global sees Canadian oil sands output averaging record 3.5 million bpd in 2026
Bitget2026/09/29 14:02- S&P Global projects Canadian oil sands output averaging 3.5 million b/d in 2026, up 100,000 b/d, setting a record.
- Forecast sees production reaching 3.9 million b/d in the early 2030s, then roughly plateauing under the base case.
- Near-term growth remains driven by optimization of existing facilities, though new-build projects could lift the longer-term trajectory.
- Analysis estimates nearly 500,000 b/d of additional capacity could advance beyond the current outlook if investment conditions improve.
- Key signal expected Nov. 15, 2026, from a final Canada-Alberta implementation agreement tied to the oil sands industry.
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