Wildfires have engulfed Fort McMurray in the heartland of Canada's oil sands leading to Alberta's largest mass evacuation. Although the fires have not directly impacted oil installations, there have been significant production cuts. In this paper, we assess the size and nature of the production cuts and we consider the secondary impact of the fire on the oil markets.
Table of contents
Not all shut-ins will impact the market immediately
Key factors that could impact near-term production
Record high US oil stocks could cushion production cuts
Tables and charts
This report includes 2 images and tables including: