CALGARY—Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.
It says it predicts daily oil and gas production between 740,000 and 780,000 barrels of oil equivalent in 2021, an increase of about 10 percent compared with this year driven by higher bitumen output from its oilsands operations.
