Canada’s oil output spared fire damage to rebound

Canada oil-sands producers, including Suncor Energy, could resume production within a week after the threat subsides from wildfires that cut as much as 40% of the region’s output.

A quick restart depends on whether companies managed shutdowns properly and if power and pipeline infrastructure is unscathed, according to analysts at Wood Mackenzie and IHS Energy.

Suncor and Syncrude Canada, two of the biggest producers in the area that’s been ravaged by wildfires near Fort McMurray, Alberta, both said they managed safe shutdowns. Only one oil-sands site, Cnooc’s Nexen operations, suffered minor damage.