Commodities
Alberta Posts Surprise $2B Surplus on Oil Price Surge
Alberta's finances have seen a significant turnaround after months of surging oil prices. The province now expects a $2 billion surplus for 2026-27, reversing a previously forecasted $9.4 billion deficit.
The increase in revenue is largely due to higher non-renewable resource revenue, which has risen by $9.7 billion. This is attributed to the average price of West Texas Intermediate (WTI) crude reaching US$73.50 per barrel.
Finance Minister Jason Nixon says Alberta will not waste this opportunity, but emphasizes the need for discipline in spending due to volatile oil markets and global trade uncertainty.