IHS Markit Oil Sands 10-Year Production Forecast: Canada’s Importance to Heavy Oil Markets Rises, Though Constrained Pipeline Infrastructure Will Weigh on Investment Decisions
IHS Markit Ltd. Common Shares (INFO)
Last ihs markit ltd. common shares earnings: 3/24 06:00 am
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Source: Business Wire
CALGARY, Alberta--(BUSINESS WIRE)-- Canada’s oil sands will experience large production growth through 2019 followed by more modest, steady growth through 2027, according to a new 10-year production forecast by business information provider IHS Markit (Nasdaq: INFO). The forecast calls for production to rise more than half a million barrels per day in 2019 and up to 1 mbd higher by 2027 compared to today. A fuller analysis of the new IHS Markit oil sands production forecast, authored by Kevin Birn, executive director, IHS Markit – who heads the Oil Sands Dialogue – is available at the IHS Markit energy blog. Canadian oil sands have gained importance to the heavy oil market as the only source of material supply growth in the world for that type of crude. Output from other large producers of heavy oil—most notably Venezuela, where production has fallen by more than one million barrels per
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