FORT McMURRAY — Canada’s oil sector is posting record production levels, driven by continued growth in Alberta’s oilsands and rising output from the country’s largest producers.
Suncor Energy reported average daily production of 909,000 barrels during the fourth quarter of 2025, setting a new company record. Analysts expect Cenovus Energy to approach or surpass one million barrels per day as early as 2027 following recent acquisitions and expansion projects.
Canadian Natural Resources has issued 2026 production guidance of about 1.62 million barrels of oil equivalent per day, up roughly three per cent from 2025.
Data from the Alberta Energy Regulator show provincial oil production exceeded 4.1 million barrels per day in 2025, a record and a 3.8 per cent increase from the previous year. December output averaged about 4.4 million barrels per day. Overall production in Alberta has more than doubled since 2010, largely due to oilsands development.
Increased pipeline capacity has supported the growth, including the Trans Mountain expansion, which began operating in 2024, and Enbridge’s Line 3 replacement. Additional pipeline expansions are under review, potentially adding hundreds of thousands of barrels per day of export capacity later this decade.
Industry analysts expect oilsands production to continue rising through the late 2020s, supported by lower operating costs, reduced emissions intensity and improved access to global markets.
Several Alberta based producers are also climbing global rankings. Based on expected 2026 output, Canadian Natural Resources, Cenovus and Suncor are all projected to rank among the world’s 20 largest non state owned oil and gas producers.
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