Canadian oil sands production is set to enter a period of slower annual production growth compared to previous years. Nevertheless, total production is expected to reach nearly four million barrels per day (mbd) by 2030—nearly one million more than today, according to a new 10-year production forecast by business information provider IHS Markit. IHS Markit expects average year-on-year supply additions to be below 100,000 barrels per day (b/d) in the coming decade. By contrast, growth over the current decade regularly averaged additions in excess of 150,000 b/d. Transportation constraints such as a lack of adequate pipeline capacity and the resulting sense of price insecurity in western Canada have weighed on new large scale incremental investments in the oil sands, said Kevin Birn, vice president, IHS Markit. Large scale oil sands projects take two, three, four or more years to be brought online and so the reality of a slower […]