12:57 PM EDT, 06/24/2024 (MT Newswires) -- The Alberta Energy Regulator on Monday said it expects oil-sands production to four-million barrels per day by 2033, up 17% from the region's 3.4-million bpd output in 2023, the Canadian Press reported.

In its annual forecast, the regulator said it expects much of the growth to come from thermal in-situ projects rather than mining.

It also expects the price of West Texas Intermediate crude oil to average US$83.63 per barrel in 2033, up from US$76.00 last year, the report noted.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)