Canada's Oil Market Survives Wildfires, Expects Major Growth


June 6, 2023--Researched by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--After losing an estimated 200,000 barrels per day (BBL/d) of oil amid an outbreak of wildfires, the provincial government of Alberta ended a state of emergency and energy services are returning to normal. With the fourth-largest oil reserves on the planet, Canada's oil-production sector remains undeterred.

Alberta declared a state of emergency on May 11 in response to growing wildfires, which have since spread to neighboring regions. Smoke is still visible in skies across North America, with fires and red-flag warnings popping up from the U.S. state of Washington to northern Michigan.

Companies featured: Crescent Point Energy Corporation (NYSE:CPG), Cenovus Energy Incorporated (NYSE:CVE) and TransMountain Corporation.

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