Fort McMurray wildfires likely to cost oilsands industry about $1 billion in lost production

Analysts have said that the recent Fort McMurray wildfires in Canada are likely to cost the oilsands industry about $1.4 billion Canadian ($1 billion) in lost production, reported CBC.ca.

Lost production from the disaster is likely to exceed 30 million barrels, according to the analysts, which predicted those numbers would increase. Restarting operations at oilsands is taking longer than expected, the analysts added.

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