Alberta Monitoring Global Economic Uncertainty as Oil Prices Dip Below Budget Forecast
Alberta is closely watching global economic volatility amid fluctuating oil prices, which have fallen below the province’s budget projections.
The 2025 budget was based on an average oil price of $68 per barrel, but prices have recently hovered in the low $60s after briefly dipping into the mid-$50s due to market turbulence caused by U.S. President Donald Trump’s ever shifting tariff policies.
Justin Brattinga, senior press secretary for Alberta’s Finance Minister, said the government is assessing the situation but won’t revise its forecasts until the first-quarter budget update in July.
Despite the instability, Brattinga said the Alberta Heritage Trust Fund remains resilient, with investments focused on long-term returns. The full impact on provincial revenues won’t be clear until the summer update.
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