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Why is fire-threatened Fort McMurray so important to Canada’s oil industry?
A wildfire threatening the Canadian oil sands hub of Fort McMurray has prompted thousands of people to evacuate the remote northern Alberta city, reviving memories of a destructive blaze eight years ago. On Wednesday, officials said favorable winds were likely to push the blaze away from the city, but oil market players are watching developments closely. So far, no companies have reported any impact on operations as a result of the wildfire or evacuation orders. The 2016 fires destroyed large parts of Fort McMurray and shut in more than a million barrels per day (bpd) of crude production. Canada is the world’s ... (full story)