Insight
Canada's oil sands: production returning in Q3 2020
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Following a brutal Q2, with negative pricing due to coronavirus and oversupply concerns, Q3 saw much needed albeit only moderate improvement in oil price. On the heels of billions of capex cuts and hundreds of thousands of barrels being taken offline from production curtailments, the third quarter trended in the right direction. Price realisations improved by massive percentages, and production began to come back online as the new normal became clearer. The end of Q3 is not as rosy as the start, as differentials have widened slightly, and benchmark prices exited below their August highs. Q4 will be telling as curtailment ends in Alberta and producers are able to go full steam ahead to ramp up their projects in 2021.
Table of contents
- Executive summary
- Benchmark crude prices
- Monthly production trends
- Other news
Tables and charts
This report includes the following images and tables:
- Benchmark pricing
- Benchmark price performance
- Historical WCS pricing
- Realised pricing
- In situ projects producing >35 kb/d
- In situ projects producing <35 kb/d
- Monthly production for select projects shows ramp ups starting in May and June
- Mining project production
What's included
This report contains:
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