Canadian oil producers are set to get an additional revenue of some C$90 billion ($65.6 billion) from the rally, Enverus recently predicted, using modelling that showed for every $10 gain in oil prices, Canadian producers stood to see additional revenues to the tune of between C$25 billion and C$30 billion. “$90 a barrel over the course of the year would be sufficient to wipe out, and probably turn into a surplus, what was going to be a $10-billion deficit,” one former adviser to the Canadian Prime Minister said earlier this month in comments on the global oil supply situation and its impact on Canadian oil revenues. Last year, the average daily hit 5.19 million barrels, down from an all-time high of 5.44 million barrels daily in December 2024 but up from the 2024 average of 5.13 million barrels daily, according to the latest data from the Canada Energy Regulator.
Author: Irina Slav
Published at: 2026-03-23 23:00:00
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