Oil firms in Canada are losing $50 million a day: analysts

Out-of-control wildfires that have consumed over a million acres of land in Canada’s Alberta are costing oil companies as much as $50 million a day in lost production, according to analysts.

Alberta’s oil producers curtailed production by May 5 as fires prompted the evacuation of Fort McMurray, a central production hub. By May 9, more than 1 million barrels of daily oil output had been halted.

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Edited May 23, 201610 yr by stander