Study: Canadian wildfire smashes oil production by $70 million daily

2016-05-18 2

A massive wildfire around the oil sands hub of Fort McMurray, Alberta, moved toward energy production facilities on Tuesday, prolonging the shutdown that has led to lost Canadian output of one million barrels a day. The fire has made an impact on the province's economy, with one study estimating the lost oil production would cut gross domestic product by more than $70 million a day. The uncontrolled blaze covered 877,224 acres on Monday.