Syncrude oil development in Alberta
Canada's oil growth optimism
Companies are bullish despite combined effect of market volatility, tariff threats, regulatory issues and midstream constraints
Canada's oil production is set for healthy but modest growth in 2026, with major producers anticipating an increase of 4–6% despite weakening prices. The country is facing challenges that include a volatile market, an evolving trade policy due to US tariff threats, environmental and Indigenous regulatory dynamics, and a pipeline expansion that is lagging output increases. Major Canadian oil companies have issued bullish forecasts for this year, signalling confidence in near-term growth. However, the emphasis remains on incremental expansion of current assets rather than new megaprojects. Compared with shale and other onshore and offshore producers, oilsands companies derive their optimism fr
Also in this section
16 April 2026
Demand for oil is falling because supply cannot meet it, not because it is no longer required
16 April 2026
The continent has an immediate opportunity to make the most of its energy resources by capturing gas that is currently slipping away
15 April 2026
The continent is seeing political pushback to climate plans, corporate reassessment of transition goals and rising supply risk in a fractured global order
15 April 2026
The Middle East energy crisis may turn out to be pivotal to the industry’s long-term expansion, but significant challenges still stand in its way
