Oil Price To Touch $85 By End-2009
Crude oil production is Canada is expected to double within the next three decades, despite current tight finances and a slower pace of development in the oil sands, a new report has said. In a best case scenario, oil production is forecast to rise to 3.3 million barrels per day by 2015 from 2.7 million barrels last year, and up to 4.2 million barrels by 2025. Solely in the oil sands, production is expected to increase by 83 per cent to 2.2 million barrels per day by 2015, and climb to 3.3 million barrels per day by 2025.
