The Canadian crude-producing province of Alberta is forecasting a record budget deficit of C$5.9 billion this year, which could increase to C$6.5 billion, finance minister Joe Ceci said on Aug. 31 in an updated first quarter forecast.
Alberta is home to Canada's oil sands and is the largest source of U.S. crude imports, and has struggled with a sharp drop in revenues as global oil prices tumbled over the last 12 months.
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