---
title: "Canadian oil sands giant expands against the trend, plans to increase production by 2026"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/270042758.md"
description: "Canadian oil sands producers plan to increase production in 2026, despite a potential worsening of price declines due to a global oversupply of crude oil. Cenovus Energy expects an increase in output of about 18%. This expansion could exacerbate the global crude oil surplus predicted by the International Energy Agency, leading to a drop in oil prices"
datetime: "2025-12-17T16:49:24.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/270042758.md)
  - [en](https://longbridge.com/en/news/270042758.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/270042758.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/270042758.md) | [繁體中文](https://longbridge.com/zh-HK/news/270042758.md)


# Canadian oil sands giant expands against the trend, plans to increase production by 2026

Despite the impending supply surplus potentially exacerbating the decline in crude oil prices, Canadian oil sands producers led by Cenovus Energy still plan to expand production next year. According to the median of production guidance, the four major Canadian oil companies all forecast an increase in output by 2026, with Cenovus predicting an increase of about 18%. The expansion of Canadian crude oil production could worsen the global crude oil surplus situation predicted by the International Energy Agency (IEA), a forecast that has previously led to a 22% drop in U.S. benchmark oil prices this year

### Related Stocks

- [Cenovus Energy Inc. (CVE.US)](https://longbridge.com/en/quote/CVE.US.md)

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