The oil sands accounted for 64% of Canada’s oil production in 2018 or 2.9 million barrels per day. The oil sands have an estimated $313 billion of capital investment to date, including $10.4 billion in 2018. Extracting bitumen. There are two methods of extracting bitumen from the oil sands: the mining method and the in situ method. The mining Canada's oil production will more than double in the next two decades, rising from 3.2 million barrels per day last year to 6.7 million barrels per day by 2030, the Canadian Association of Petroleum Producers said in its annual forecast Wednesday.