Article Image

News Link • Oil

2024 Canadian Oil Production

• arclein

After a relatively weak year for Canada's oil producers, output growth in 2024 could amount to a significant 300?"500k/barrels per day ?" putting the nation in the running to be the largest source of global oil supply growth. The Trans Mountain Pipeline is the biggest factor, with Alberta's oil producers ramping up late last year in anticipation for it's start up. In addition, the restart of the Terra Nova oil field in Newfoundland and Labrador (N.L.) should add a decent tally to national oil production growth. Oil sector output could contribute 0.2?"0.4 percentage points (ppts) to total Canadian GDP, offering an important buffer as the broader Canadian economy gears down this year.


Zano