That pattern has occurred just about every year since 2014, when the main oilpatch industry group forecast oilsands output climbing to 4.8 million barrels per day by 2030. For context, oilsands production at the beginning of this year was about 2.9 million barrels per day. A comparison of the latest IHS oilsands production outlook to the forecast released last year. Still, on an annualized basis, oil production still increased more than the previous year. If the pandemic's impact on fuel demand drags on beyond analyst expectations, it could have an impact on oilsands growth projects.

Source: CBC News July 29, 2020 07:52 UTC