S&P Global revises oilsands outlook upward despite crude market volatility
CALGARY - S&P Global Commodity Insights says oilsands output is forecast to rise by half a million barrels from last year's levels by the end of the decade.
That would mark a three per cent increase from S&P's previous 10-year outlook for the sector and would be the fourth upward revision in a row.
Chief Canadian oil analyst Kevin Birn says the change in trajectory, even during volatile times, reflects how producers are working to improve efficiency from existing operations.
Oilsands production is expected to hit a record 3.5 million barrels per day this year — five per cent higher than last year.
S&P forecasts output will exceed 3.9 million barrels per day by 2030, but plateau around 3.7 million barrels in 2035.
Director of crude oil markets Celina Hwang says the outlook could be dampened by export pipeline constraints, but oilsands operators have proven they can withstand such volatility.
This report by The Canadian Press was first published June 24, 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
11 minutes ago
- CNBC
Industrial plays for the second half, and why Netflix is primed to go even higher
(This is a wrap-up of the key money moving discussions on CNBC's "Worldwide Exchange" exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are seeing opportunity in tech outside the "Magnificent Seven" and giving top picks in the industrials space after it finished the first half of 2025 as the top-performing sector. Worldwide Exchange pick: Netflix Victoria Greene of G Squared said Netflix still has more second half upside despite a more than 50% gain in the first six month of the year and a forward PE ratio of 50. "Bulls don't die from a big PE," Greene said. "You need to focus on the fact that linear TV is still under a lot of pressure, streaming is just now becoming the highest percentage of viewership." She added: "They are brilliant in what they are doing, look at their pricing tiers, their addition of ad-based which hasn't really made much. But we think ad revenue is going to be $3 billion and that is going to ramp up closer to $10 billion." In April, Netflix guided for ad revenue to "roughly double" this year while referring to it as "very small relative to subscription revenue." WEX pick: Johnson Controls Amit Mehrotra, industrials head at UBS, said Johnson Controls is one of his top picks. "It's really tied to the energy efficiency trade," said Mehrotra "Fifty-percent of it's business is commercial HVAC. When you think about data centers or all the demand for power in the U.S. as power prices go higher, the payback for upgrading commercial HVAC is meaningful." Johnson Controls has a consensus overweight rating and $105 price target, according to FactSet. Mehrotra's other top industrials picks for the second half of 2025 are 3M and Honeywell . Bullish on midcaps Alan McKnight of Regions Asset Management is bullish on midcap companies in the second half of the year, seeing a catchup trade after underperformance against the S & P 500. "When you think about it from an earnings growth perspective, they are almost on parity on growth, but the valuation disparity doesn't accurately the opportunity going forward in Midcap," said McKnight. "For those companies in the midcap space that have solid balance sheets, that have good earnings growth on par with what we are looking at in large cap, they should start to receive a garner a valuation that is more akin to what their large cap peers are receiving." The S & P 500 trades at approximately 23 times forward earnings while the S & P Midcap 400 trades at approximately 16 times forward earnings.
New York Times
11 minutes ago
- New York Times
Thought Markets Were Volatile Already? Watch Out.
Uncertainty ahead It has been a Jekyll-and-Hyde start to 2025. Analysts and investors are bracing for more drama in the second half. S&P 500 futures point to a weak opening on Tuesday, but the benchmark index is on a winning streak, having closed on Monday at another record. But the dollar has had its worst start to the year in more than a half-century as some investors sweat a possible return of the 'sell America' trade instigated by President Trump's trade war. Amid this split screen, Trump has stepped up his attacks on the Fed and its chair, Jay Powell. The threat to the central bank's independence could jolt global investors' nerves. A recap: Coming into the year, Wall Street hoped that Trump's business-friendly agenda of slashing taxes and regulations would propel stocks. But while the S&P 500 is up more than 5 percent this year, tariff uncertainty has rattled business executives, consumers and investors. And the fate of the Republican policy bill that is central to Trump's domestic agenda remains unclear as the legislation awaits a vote in Congress. Want all of The Times? Subscribe.
Yahoo
15 minutes ago
- Yahoo
Nuvei launches direct payment acquiring in Canada
Canadian fintech firm Nuvei has gone live as a direct payment acquirer, allowing businesses in the region to process domestic transactions locally via its platform. With this move, Canadian merchants are expected to increase sales capture, diminish the incidence of lost transactions, and deliver streamlined purchasing experience for consumers. The service aims to provide 'higher' transaction approval rates through local processing and intelligent routing, while also reducing the 'complexity' associated with multiple payment intermediaries. Additionally, Nuvei's new service offers real-time payout options, granting merchants access to over 700 alternative payment methods in 150 different currencies. The platform also promises unified reporting, simplified reconciliation, and supporting enhanced omnichannel capabilities, the company said in a press release. The announcement is in line with Nuvei's global strategy, which aims to simplify and amplify payment processes for businesses across various markets through a single integrated platform. This platform encompasses payment acceptance, optimisation, risk management, and payout functionalities. Nuvei chair and CEO Phil Fayer said: 'Becoming a direct acquirer in Canada reflects our strategy to build direct acquiring capabilities in every major market. There is no better place to showcase this than Canada, where our journey began. By combining local acquiring with our global platform, we help merchants achieve higher approval rates, better conversions, and more predictable interchange costs. 'Alongside powerful omnichannel capabilities and simplified reconciliation, we're giving businesses around the world the infrastructure they need to grow faster and compete globally.' In May, Nuvei (EPI), integrating the Wero digital wallet into its suite of payment solutions for e-commerce businesses. This integration provide Nuvei's merchant clients with early access to the Wero payment solution via their existing Nuvei platform integration. "Nuvei launches direct payment acquiring in Canada " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
