The Cenovus Christina Lake oilsands facility southeast of Fort McMurray, Alta., is shown on April, 24, 2024. The Canadian Press/Amber Bracken
Western Canadian oil production can grow by about one million barrels per day over the next seven years, driven mainly by expansions to existing steam-driven oilsands projects, says a new report from Enverus Intelligence Research.
But it can take years to plan and build such projects, so producers have a limited ability to take advantage of the surge in global crude oil prices driven by the war in the Middle East, said the report released Tuesday.
