The research report forecasts that Canadian oil production will reach new highs in two years.

 

On the basis of statistics, Canadian oil production is on track to reach an all-time high in the next two years. According to Deloitte, the planned start-up of the Trans Mountain pipeline will promote growth. As per analysis, additional capacity produced by ongoing pipeline development will likely raise Canadian output by 375,000 barrels per day over the next two years.

The Trans Mountain Pipeline System is Canada's only pipeline system that delivers oil from Alberta to the West Coast. Its expansion will raise the pipeline's capacity from 300,000 bpd to 890,000 bpd. Most of these new exports will be destined for markets outside the United States. This would enable Canadian manufacturers to minimize their reliance on US refinery operations.