Special Report: Forecasts moderate Alberta oil sands production growth

07/12/2009
Various forecasters have lowered their expectation for increases in bitumen production from Alberta oil sands, but most still see a sizable rise during the next decade, with bitumen production of at least 2 million b/d in 2018 compared with 1.3 million b/d in 2008.Alberta’s Energy Resources Conservation Board in its recent update forecasts bitumen production to reach 2.7 million b/d in 2018.1 This rate is a decrease from its forecast last year that saw oil sands production increasing to 3.23 million b/d in 2017.For determining its current projections, ERCB has lowered its crude price assumptions and now expects US West Texas Intermediate to average $55/bbl in 2009 and increase to $1...
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