Canadian Oil Sands Buck Price Drop With 2026 Growth Plans
Heavy haulers at the Athabasca oil sands near Fort McMurray, Alberta, Canada.
Photographer: Ben Nelms/BloombergCanadian oil sands producers led by Cenovus Energy Inc. plan to expand production next year despite an impending supply glut that threatens to deepen the slump in crude prices.
All four of Canada’s biggest oil companies including Cenovus, Canadian Natural Resources Ltd., Suncor Energy Inc. and Imperial Oil Ltd. are forecasting higher output in 2026, according to guidance midpoints.