Oil Daily
Canadian Output to Surge

Monday, March 12, 2012

A report by Bentek Energy says that Canada's crude oil production will rise by 31% to nearly 4 million b/d during the 2011-2016 period. It also forecast that Canadian crude oil exports to the US will grow by 42% or 917,000 b/d over the same period to 3.1 million b/d.

All of this production is expected to compete for pipeline space. Rising Canadian oil exports to the US will impact what Bentek describes as "the already constrained refinery and transportation markets" in the two countries (OD Feb.9'12).

To access a complete copy of this report, please click here.