Canada’s Oil Output Steady amid Wildfire Threat: Goldman Sachs

Canada’s oil production has remained largely stable, but the risk that wildfires pose to the industry is growing, Goldman Sachs said July 23.

• "Rising concerns over spreading Canada wildfires have not materialized into severe production disruptions yet, with our Canada production nowcast increasing in July, in line with our expectations," GS said.
• However, the worst of the wildfires is likely yet to come, and around 0.4m b/d of oilsands production is likely at risk, the bank said.
• An evacuation order was issued July 22 for the Town of Jasper and Jasper National Park in the province of Alberta due to wildfires.