Pipeline bottlenecks, regulations prompt cut in Canadian oil growth outlook

|About: Suncor Energy Inc. (SU)|By:, SA News Editor

Canadian oil production will grow by an average 1.4%/year until 2035, according to a new forecast from the Canadian Association of Petroleum Producers, cutting its guidance from five years ago by half due to the lack of new pipelines and inefficient regulation.

Canada holds the world's third-largest crude reserves, but CAPP says "we need pipeline capacity and more efficient regulatory policy to help bring investment back to the oil sector and drive growth."

CAPP also forecasts capital investment in the Canadian oil and gas industry would fall to C$37B (US$27.7B) in 2019, compared with C$81B in 2014.

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