Canadian oil sands driving non-OPEC growth

Financial Post | Business

Non-OPEC crude production is set to outpace OPEC output over the next decade, driven by higher Canadian oil sands and American shale oil production, according to the International Energy Agency (IEA). While Canadian output is set to rise well past 2020, American and other non-OPEC producers will plateau or start declining. After growing slowly in the next eight years, OPEC production is forecast to power ahead over the next few decades until 2035, to retain its influence as the world’s largest supply block in global markets, says the IEA.

Click on the graphic below to enlarge

FP1206_OilProduction1

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