O CANADA: Oil Sands Help Shale Stymie OPEC’s Effort to Rebalance Market.

As oil rigs in the U.S. jumped 45 percent this year, north of the border, oil-sands companies including Devon Energy Corp., Suncor Energy Inc. and Cenovus Energy Inc. have ramped up operations as well. Their thermal production sites are running as much as 30 percent above capacity this year, squeezing barrels from existing production sites to maximize revenue.

Oil sands will be second to shale as the biggest contributor to global supply growth over the next two years with half a million barrels a day of production scheduled to enter the market, according to IHS Energy. The growth seen across North America is blunting the impact of output cuts agreed to by the Organization of Petroleum Exporting Countries and other producers including Russia.

These days, everybody is drilling their way to lower prices.