Canadian oil producers stand to receive a windfall of up to C$90bn ($65.6bn) if crude prices maintain the levels they have hit since the Iran war started.
Modelling by Enverus, a research provider, estimates Canadian companies will generate an extra C$25-C$30bn in revenue for every $10 rise in oil prices this year following the market turmoil caused by US and Israeli attacks on Iran.
West Texas Intermediate, the US benchmark, has surged to just over $98 on Friday from $67.02 on February 27, delivering a huge boost to an industry which is seeking to expand exports to Asian markets struggling to source energy supplies due to the Middle East crisis.
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