Author: Jimmy Thomson, Canadian Geographic
Publish Date: Oct 4, 2013 Last Update: Sep 20, 2018
The oil sands are the third-largest proven oil reserve in the world, representing 166.3 billion barrels (or 97%) of Canada’s 171 billion barrels of proven oil reserves. In 2014, oil sands production was 2.2 million barrels per day.
In its most recent forecast, even under the most stringent emissions scenario, the International Energy Agency (IEA) predicts that in the next 25 years oil sands production in Canada will increase by approximately 2.5 million barrels per day with the oil sands accounting for the majority of this growth.
Canada is the fourth largest producer and fourth largest exporter of oil in the world. 98% of Canada’s proven oil reserves are located in the oil sands. 99% of Canada’s oil exports go to the U.S.
Contact us with any questions or concerns