Viewpoint: Canada’s oil sands set for liftoff in 2022

  • Date: 23-Dec-2021
  • Source: Argus Media
  • Sector:Oil & Gas
  • Country:Gulf
  • Who else needs to know?

Viewpoint: Canada’s oil sands set for liftoff in 2022

Calgary, 23 December (Argus) — A price rebound and an increase in export capacity have Canadian crude producers gearing up for the most promising year in nearly a decade.

Purse strings are being loosened after years of budget contractions and a renewed sense of optimism has Alberta's oil sector eyeing possible production records in 2022.

Canada's heavy sour benchmark from January to November has more than doubled in price compared with the same period 2020, peaking at a seven-year high of $69/bl in October.