Alberta's Oil Bonanza Brings $2 Billion Surplus Amid Global Price Spike

Alberta's finances have taken a dramatic turn for the better, thanks to rising oil prices triggered by the Middle East conflict. The province had initially forecasted a $9.4-billion deficit for 2026, but recent numbers indicate a $2-billion surplus instead.

The average price of West Texas Intermediate (WTI) oil has surged from an anticipated US$60.50 per barrel to just above US$88 since the U.S.-Iran conflict began in April.

For every dollar increase in WTI, Alberta's treasury gains $680 million. To achieve a surplus for 2025-26, WTI would need to average US$65 per barrel by next March.