Canada Oil Output To Rise 33% By 2035

Canada’s oil output is set to rise 33% by 2035, driven almost entirely by higher oil sands production, but without new export pipelines Canadian producers will continue to be excluded from emerging markets, an industry group said on June 12.

In its annual forecast, the Canadian Association of Petroleum Producers (CAPP) also warned that Canada’s inability to get new crude export pipelines built, along with regulatory uncertainty, was weighing on investor confidence.

“The competition for capital investment in the global marketplace is fierce and Canada is losing,” CAPP CEO Tim McMillan said in a statement.