Residents have questions after their Tim Hortons closes and pump trucks move in

Reuters

Canadian Natural Resources to ramp up production, spending in 2025

Canadian oil producers have projected higher production for 2025, betting on resilient demand for Canadian crude in the United States and international markets. Fuel demand in the United States, the biggest destination for Canadian crude, is expected to rise in 2025 as industrial activity is likely to benefit from a cut in borrowing rates, according to the U.S. Energy Information Administration. Canadian producers are also benefiting from the start-up of the Trans Mountain pipeline expansion earlier last year, which has nearly tripled the flow of oil to Canada's Pacific Coast from landlocked Alberta, boosted the price of Canadian crude and opened up market access to refineries in Asia and the U.S. West Coast.