08MAR2019 - NEWS - National Energy Board predicts Canadian crude oil production to drop this year for first time in a decade

The National Energy Board (NEB) is predicting that Canadian crude oil production will decrease this year for the first time since 2009. The NEB published an update to its Estimated Production of Canadian Crude Oil and Equivalent data on Tuesday, including initial numbers for the full year 2018 and expectations for 2019. The data shows that total Canadian oil production averaged 4.58 million bbls/d in 2018, up from 4.21 million bbls/d in 2017. The country’s volumes have been increasing every year since 2010, when production averaged 2.83 million bbls/d. In a small but meaningful adjustment, the NEB estimates that growth will not continue in 2019, estimating production will decrease to average 4.51 million bbls/d.

Published by Editor - www.Livebunkers.com at 08-Mar-2019 04:48:34 [UTC] , contact editor at editor@livebunkers.com