Oil sands output 'set to triple'

Thrice the cuppa: oil sands output could triple in 25 years, Canada's National Energy Board said

Production from the oil sands will more than triple over the next quarter century to 5.1 million barrels per day, Canada's national energy regulator said in a report released on Tuesday.

In a look at energy production and consumption through 2035, the National Energy Board said output from the oil sands, the largest source of US oil imports, will continue to expand from around 1.5 million bpd currently as new mining and thermal projects tap the resources, Reuters reported.

The oil sands of northern Alberta are the world's third biggest crude reserves, behind only Saudi Arabia and Venezuela, but the largest open to private investment.

The NEB said its forecast also assumes oil prices will rise slowly through to 2035, reaching $115 per barrel…

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