Canada Oil Output Growth Upgraded By 500,000 B/D

Published on Tuesday, 12 Jun 09:12 am

Canadian oil output is poised to surge ahead far faster than expected a year ago, according to the Canadian Association of Petroleum Producers, which has boosted its forecast for 2020 production by 500,000 b/d , reports Reuters. Total output from Canada is expected to jump by 57% by the end of the decade due to a new boom in light oil from shale oil and other tight rock formations and other investments in Shale Oil. The Canadian Association reported a year ago its output would hit 4.2mn b/d.

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