Higher oil prices could result in big boost to Alberta’s budget

Now that oil prices are on their way back up, a major bank says it could pay off big time for the provincial budget.

The Bank of Montreal says Alberta could see $3B added to this year’s budget if oil prices remain at current levels.

It’s the highest that oil has been since late 2014.

Those profits could also be a big help to covering the current Alberta debt, which is somewhere around $8.8B.

The weaker than expected Canadian dollar is also attributed to the bonuses that other royalty generating provinces, Saskatchewan and Newfoundland, will benefit from.