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Production of oilsands in Canada likely to grow

Canada’s oilsands production is likely to continue to grow up to 3.1 million barrels a day by 2020 according to an analysis by RBC Capital Markets. Oilsands require long-lead times for changes in production amounts. For example, the relatively new technology of steam-assisted gravity drainage (SAGD) will likely continue to be used as companies wait for oil prices to increase. Because oilsands production rates cannot quickly adjust to the current economy, they face a complicated future. To read the full article follow the link below.

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