Canadian oil producers see higher output amid resilient demand
U.S. fuel demand expected to rise with lower borrowing rates
Trans Mountain pipeline boosts Canadian crude prices and market access

Reuters Three of Canada39;s biggest oil producers, Suncor Energy, Cenovus Energy and Imperial Oil, on Thursday projected higher production in 2025, betting on resilient demand for Canadian crude in U.S. and international markets.

Fuel demand in the United States, the biggest destination for Canadian crude, is expected to rise next year as U.S. industrial activity will likely benefit from a cut in borrowing rates, according to the U.S. Energy Information Administration.

Oil exports to the U.S. could slow, however, if incoming U.S. President Donald Trump follows through on his pledge to add a 25 tariff to Canadian goods unless Ottawa clamps down on the flow of illegal immigrants and drugs across the border.

Calgary, Albertabased Suncor forecast 2025 production to be between 810,000 and 840,000 barrels per day bpd next year, a 4.4 rise at midpoint compared to projected output for 2024.

More noteworthy, BMO Capital Markets Analyst Randy Ollenberger said in a note, is that the company is wellpositioned to beat its 2024 production guidance of 770,000810,000 bpd raising the question whether a repeat could occur in 2025.

Cenovus forecast a 4.4 increase in 2025 crude output, targeting 805,000 to 845,000 barrels of oil equivalent per day, primarily driven by the startup of the…