The ongoing grass fire that has lasted over two weeks in Alberta, Canada, has cost $760 million (C$985m, £528m) in lost oil sands production, according to a report into the impact.

The report by economic research organisation the Conference Board of Canada estimated that 1.2 million barrels per day have been lost as a result of the fire over the past two weeks.

At just 0.06% of Canada's GDP, the Conference Board of Canada said the overall economic impact would be "minimal".

Speaking to the BBC, Kevin Birn, an analyst at IHS Energy, said: "The industry was already feeling the impact of a very low price environment in the first quarter of the year, with prices lower than in the rest of the world."

But he added that the oil sands firms affected are some of the largest in the world, which would be "pushing to get facilities up and running as soon as possible".

The fire is now heading closer to the area's oil fields. Mr Birn said: "Some facilities had already started ramping up ready to restart production, but have had to stand down again and evacuate workers. There is rain forecast for this weekend which will hopefully bring an end to this disruption."

Thousands of people have been evacuated from their homes as the 1,366 sq mile blaze moves across the province towards the neighbouring Saskatchewan