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Cut in oil sands production due to coronavirus in Canada 2020

By April 20th 2020, some 300,000 barrels had been cut in daily oil sands production in Canada. The coronavirus pandemic and resulting decline in consumer oil demand have been exacerbated by high levels of production in other oil producing countries and storage facilities rapidly filling up. Canada's heavy oil benchmark Western Canadian Select has also dramatically dropped in price, trading below ten dollars per barrel for more than a week, and dropping to -0.01 U.S. dollars per barrel as of April 20. Estimates expect production cuts in Canada may have to increase to 1.5 million barrels per day.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

Decline in daily production output of the oil sands industry in Canada as of April 2020

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Source

Release date

April 2020

Region

Canada

Survey time period

April 2020

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