SPGI · News · 20260929N

Energy Market Demand Trends

S&P Global Inc. · 2026-09-29 · Importance 22 · Surprise 32

S&P Global Energy forecasts Canadian oil sands production will average a record 3.5 million barrels per day in 2026. The forecast represents a 100,000-barrel-per-day, or 3%, increase from the prior year. Production is expected to plateau near 3.9 million barrels per day in the early 2030s, although new construction could provide additional upside. Optimization of existing operations, pipeline expansions, carbon-pricing clarity, and renewed investment are identified as growth drivers.

Key facts

• S&P Global Energy said Canadian oil sands production is expected to average a record 3.5 million barrels per day in 2026. source
• S&P Global forecasted Canadian oil sands production is expected to plateau around 3.9 million b/d by the early 2030s. source
• S&P Global Energy said the 3.5 million b/d in 2026 represents a 100,000 b/d (3%) increase from the previous year. source