Alberta Averts Deficit with $2B Surplus Forecast

Alberta's financial forecast for 2026-27 has been revised upward by $11.4 billion, from a projected deficit of $9.4 billion to a surplus of $2 billion.

The province attributes the improvement in its finances to higher oil prices, with West Texas Intermediate (WTI) averaging US$93 a barrel during the first three months of the fiscal year, compared to an assumed average price of US$60.50 a barrel in Budget 2026.

According to the latest fiscal update, revenue from non-renewable resources accounts for $9.7 billion of the increase, led by an $8.3-billion increase in forecast bitumen royalties.