Canada’s Oil Industry Eyes Higher Output in 2025

Canadian oil producers plan to hike output next year despite the challenging political context, within which they have to operate, as demand abroad remains strong. Reuters cited updates from Cenovus, Imperial Oil, and Suncor that show all three expect to boost production next year. For Cenovus, the growth target is about 4.4% to between 805,000 bpd and 845,000 bpd. For Imperial Oil, the output growth target is 3.1%. For Suncor, the 2025 production increase target is the same as Cenovus’, at 4.4%. The top players in Canadian crude also plan…