OEF Rapid Review
Oil sands will be second to shale as the biggest contributor to global supply growth over the next two years with half a million barrels a day of production scheduled to enter the market. The drive for efficiency, along with lower gas prices, has driven the average break-even operating cost on thermal oil sands to less than $10 a barrel from about $15 in 2014, and expanding or building a site requires a price of $50 to $60. Western Canada’s oil sands production will rise by 720,000 barrels a day to 3.12 million in 2020.
LINK TO THE SOURCE ARTICLE:
Northern Alberta’s Oil Sands Are One More Complication For OPEC
