Canadian Production to Grow Despite Massive Drop in Investment (see Energy Market Report – April 11).

  • Despite a 65% fall in investment over the past two year (CAPP), Canadian output is expected to continue growing through to the end of the decade
  • We expect nearly all projects currently under construction in Western Canada to go forward
  • We see Canadian production increasing by 1.6% y-o-y in 2016 to 4.5 million b/d and reaching 5 million b/d in 2019