Alberta Wildfires Shut Down About 7% of Canada’s Oil Production

June 03, 2025 01:35 AM AEST | By EODHD

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Alberta Wildfires Shut Down About 7% of Canada’s Oil Production — Image source: Kalkine Media

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(Bloomberg) — Wildfires in Canada’s energy heartland of Alberta have shut down almost 350,000 barrels of daily heavy crude production — about 7% of the country’s output — as a major blaze near the province’s eastern border menaces oil sands operations. Most Read from Bloomberg Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children’s Museums Are The Economic Benefits of Paying Workers to Move Now With Colorful Blocks, Tirana’s Pyramid Represents a Changing Albania At London’s New Design Museum, Visitors Get Hands-On Access Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources Ltd. are among the companies that curtailed output because of the 61,500 hectare blaze near the Saskatchewan border. The so-called Caribou Lake Wildfire and other out-of-control blazes at least 10 hectares in size were within roughly 10 kilometers of about 470,000 barrels a day of oil production early Monday.

NYSE - Nasdaq Real Time Price•USD (CVE) Follow View Quote Details 13.42 - +(1.86%) As of 12:07:11 PM EDT. Market Open. CVEME7.F Advanced Chart Canada’s prairie provinces of Alberta, Saskatchewan and Manitoba have seen an eruption of wildfires, prompting the evacuations of thousands of people away from potential danger. A total of 26 wildfires were burning out of control early Monday in Alberta, which is the source of most of Canada’s oil output. The loss of supplies from the world’s fourth-largest oil producer comes at a time when heavy crude supplies already are strained.

Oil sands operators had recently curtailed output for regular maintenance, and tightening sanctions have crimped supplies of similar heavy crudes from Venezuela. Cenovus said Sunday that it expects to resume operations at its 238,000 barrel-a-day Christina Lake oil sands site in the “near term” after shutting output on May 29. MEG Energy’s nearby oil sands site was affected by a power cut due to the blaze, delaying the restart of a 70,000 barrel-a-day section of the facility after maintenance. Canadian Natural evacuated workers from its Jackfish 1 oil sands site, shutting 36,500 barrels a day of output. Most Read from Bloomberg Businessweek YouTube Is Swallowing TV Whole, and It’s Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now.

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