Alberta Posts $2 Billion Surplus as Oil Prices Soar

Alberta is expected to post a $2 billion surplus in its fiscal year 2026-27, reversing a projected deficit of $9.4 billion from just months ago.

The forecast comes as oil prices continue to rise, with West Texas Intermediate (WTI) averaging US$93 a barrel during the first three months of the fiscal year, up from an assumed average price of US$60.50 a barrel in the budget.

Higher energy prices are expected to contribute $9.7 billion to the increased revenue, with bitumen royalties increasing by $8.3 billion. Income-tax revenue also rose, adding another $965 million to the total.