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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

UPDATE 1-Canada's Cenovus Energy shuts down some production due to Alberta wildfire

Reuters
·1 min read

(Adds details on production impact in paragraph 2, outlook in paragraph 4)

May 8 (Reuters) - Canada's Cenovus Energy Inc said on Monday it has shut down production plants in some areas of its conventional business, due to wildfires in Alberta.

The company added that production of about 85,000 barrels of oil equivalent per day has been impacted in Cenovus' Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas.

Cenovus, one of Canada's top energy producers, said it was working with provincial and municipal agencies to support efforts and staff in the area.

The company added that its 2023 production outlook remains unchanged.

Canada's main oil-producing province Alberta on Saturday declared a provincial state of emergency due to wildfires. (Reporting by Arunima Kumar and Sourasis Bose in Bengaluru; Editing by Shailesh Kuber and Shounak Dasgupta)