- According to Statistics Canada , the domestic mining, quarrying and oil and gas extraction was the biggest detractor to the country’s GDP growth in May, as many companies, specifically in Alberta, reduced operations as a result of forest fires in the province.
According to the report, in May 2023, the energy sector was most impacted by declines in mining, quarrying and oil and gas extraction, which fell 2.9%. The agency noted that oil and gas extraction dropped 6.6% as a result of the forest fires in Alberta. The country’s oil sands extraction decreased 1.6% in May 2023, as maintenance at a number of facilities in Alberta throughout the month contributed to lower production.
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