Canadian oil production to reach 5.86 million bpd by 2035: industry body forecast

CALGARY: Canadian oil production will increase to 5.86 million barrels per day by 2035, the Canadian Association of Petroleum Producers (CAPP) forecast on Thursday, while warning growth is constrained by lack of new pipelines and inefficient regulation.

CAPP also forecast capital investment in the Canadian oil and gas industry will fall to C$37 billion ($27.76 billion) in 2019, compared with C$81 billion in 2014.