Analysts are closely watching the impact of rising oil prices on Alberta's economy and resource sector, given the instability in the Middle East and disrupted passage through the Strait of Hormuz.

If you need to fill your gas tank in Alberta, the best time to do it is now, as prices are skyrocketing with no end in sight.

The once debt-free province says a dramatic rise in population, coupled with low oil prices, is to blame for the sobering financial outlook.

The Alberta government's new budget projects years of deficits due to slumping oil prices. Some experts say the province’s predictions for price recovery may be optimistic.

By Amanda Stephenson CALGARY, Feb 26 (Reuters) - The Canadian oil-producing province of Alberta forecast a budget deficit of C$9.4 billion ($6.87 billion) for its 2026/27 fiscal year on Thursday, breaking its own rules on allowable deficit financing and blaming lower global crude prices that have walloped the government's resource revenues.

Alberta’s finance minister was discussing his new budget with Calgary’s business community Friday when he was asked what he hoped the financial discussion would focus on in a year’s time.

Alberta, Canada’s main oil-producing province, is projecting its budget deficit will more than double in the coming fiscal year after softer crude prices coincided with a surge in population to strain public finances.

The energy-rich province in its latest operating budget slashed by $35 million, to $60 million, what it has set aside to draw major studios and streamers to shoot locally.