Oil sands, the workhorse of Alberta’s — and Canada’s — crude oil production growth, achieved a record production year in 2021. A steady turnaround in crude oil prices, improved market access, and the tried-and-true resilience of oil sands producers combined to drive the increase in output. With 2022 barely out of the starting blocks, the oil sands players have provided production guidance for this year that, if fulfilled, could set the oil sands on track for another year of record output. In today’s RBN blog, we consider the latest production guidance estimates and what these could mean for the availability of oil pipeline export capacity from Western Canada.
Higher Power – Alberta’s Oil Sands Production Setting Up for Another Record Year in 2022
