Oil sands production costs have decreased significantly
The Canadian oil sands have become one of North America’s lowest-cost oil producers.
After the 2014-15 oil price crash, major energy companies like BP, Chevron, and TotalEnergies sold their interests in the Canadian oil sands, redirecting capital to cheaper US shale production.
The oil sands have since become more competitive, with costs decreasing over time, making them an attractive option for oil production.