As global oil prices accelerate into high levels, a new study says they’re also shifting gears — expected to average US$95 a barrel for Brent crude for the rest of 2026 — and that will have major implications for Canada’s two largest oil-producing provinces.

For the governments of Alberta and Saskatchewan, it would make a seismic difference to the bottom lines of just-released budgets and spur the industry to hike output, but also hit consumers in the pocketbook with higher energy costs.

“We could all agree that we are living in an uncertain world, and a month can change everything,” Saskatchewan Premier Scott Moe said in an interview Tuesday.

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“The question I would have as a government is how stable is that price moving forward through the next 12 months . . . There may be some positives on the bottom line of budgets, which is a good thing, because all provinces are struggling with some deficits this year, but it will have a negative effect on families.”

There’s a similar sentiment in Alberta.

“It’s a double-edged sword because, on the one hand . . . it generates so much value for our economy,” Premier Danielle Smith said in an interview.

“It goes both ways. Higher prices are bad for consumers and they’re bad for business investment.”

On Tuesday, energy analytics firm Enverus released a new oil outlook that sharply increases its price forecast for the global benchmark Brent crude, projecting it will average US$95 a barrel for the rest of this year amid the war in the Middle East and its........

© Calgary Herald