Canadian oilpatch production expected to grow in 2023, exceeding 2022's record output

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“What we know is that in an economic downturn, oil demand falls,” Petursson said. “So I think are going to want to be a little more measured and not say ‘hey, oil prices are just going to trend higher — let’s go all in in 2023.’ ” In addition, the Trans Mountain pipeline expansion is expected to be complete by the end of the year, offering additional transportation capacity for oil companies and increasing the potential for export growth.

“I think it will nudge a little higher because of projects already in place,” he said. “But I don’t think you’re going to see the ‘drill, baby, drill’ mentality of decades ago.”Article content “If you take it net of inflation, I don’t think we’re seeing tremendous capital spend,” Reznick said. “Producers aren’t responding with historical types of responses, even though we’re seeing robust commodity fundamentals.”

Trudeau and liberals must be jealous of Alberta, they want to shut down oil industry but Alberta is becoming prosperous, Albert & Sask won’t face thought time like other provinces in 2023

Yaand it could be so much more if it wasn’t in Canada!! I don’t even think we do 5 million bpd and the world uses 100 million a day. How much money is Canada losing out on ? 5 million bpd nothing drop in the bucket Russia still moving more oil and there killing people for nothing

Love the left comments about Trudeau. Yes, he’s trying REALLY hard to shut them down. Thing is, it would result in societal collapse. So the same ones are curbing his woke agendas.

but but but… the gatekeepers Trudeau baaaaad!

How can that be? All I see in the Post is Rex Murphy and the rest of the right wingers whining that Trudeau is curtailing oil production. Could the Post and the rest of the CONS have been lying all along?

How strange, all postmedia has been saying all year is that the oil industry is hurting terribly and we need to hand the keys to our government over to them or alberta will collapse, imploding the bery fabric of reality.

This is a surprise. I thought Trudeau's policies had nearly shuttered the oil sands.

Looks like a nickel mine.

Now is a good time to use that money to make Alberta more self-sufficient and independent. - Create a separate electric power source. - Create a police force. - Diversify the sources of economic power.

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