Crude Rally Helps Canada’s Oil Heartland Weather Covid-19 Surge
- Alberta’s Travis Toews speaks at Bloomberg fixed income summit
- Canadian province has seen ‘massive improvement’ in revenue
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Rising crude prices are shoring up Alberta’s finances even as the oil-rich Canadian province grapples with the country’s worst resurgence of the pandemic, its finance minister said.
Alberta, which has almost half of Canada’s current Covid-19 cases, has been able to set up provisions to cope with mounting health costs. Rising oil-royalties revenue is helping offset the impact of the pandemic on the economy, Finance Minister Travis Toews said during the Bloomberg Canadian Fixed Income Conference.