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Re: Canada's oil boom has legs, IEA says

Posted by: Diesel1 on July 18, 2007 04:03PM

In response to: Canada's oil boom has legs,... by IndianBoy

Globally, the IEA forecasts demand for crude oil products will grow 2.2 per cent a year on average to 95.8 million barrels a day in 2012. It expects 1.3-per-cent average annual growth in North America, and 0.7-per-cent in Europe.

report forecasts Canadian daily crude production will grow by nearly 700,000 barrels - to 3.9 million - by 2012. And most longer-term forecasts project oil sands alone could be producing 3.5 million barrels a day by 2020.

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