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Canadian crude oil production expected to rise 23% by 2016
CALGARY ` Canadian oil production will increase by 23 per cent within four years, increasing pressure on outlets to markets south of the border, according to Colorado-based Bentek Energy.
Canadian crude production is expected to rise by 763,000 barrels per day by the end of 2016, the energy markets analytics firm said in a report Tuesday.
Much of the increase will be driven by oilsands projects ramping up and by conventional crude plays gaining momentum through technologies such as horizontal drilling and multi-stage fracturing, Bentek said.
Read the full article here.
CALGARY ` Canadian oil production will increase by 23 per cent within four years, increasing pressure on outlets to markets south of the border, according to Colorado-based Bentek Energy.
Canadian crude production is expected to rise by 763,000 barrels per day by the end of 2016, the energy markets analytics firm said in a report Tuesday.
Much of the increase will be driven by oilsands projects ramping up and by conventional crude plays gaining momentum through technologies such as horizontal drilling and multi-stage fracturing, Bentek said.
Read the full article here.