The blaze has meant 1.2 million barrels of oil has been lost over two weeks
A new report into the financial impact of the McMurray fires says some C$763m (£527m) in oil sands production has been lost.
The analysis says the blaze has meant the loss of 1.2 million barrels of oil a day over two weeks.
The
sum is equivalent to 0.33% of the province of Alberta's projected GDP
this year, as well as representing 0.06% of the country's projected GDP.
"These are big numbers," 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," he told the BBC's Bill Wilson.
The analysis, by economic research organisation the Conference Board of Canada, projects that national economic impacts will be "minimal".
He
said the oil sands firms affected were among the biggest energy
companies in the world, and that they would be "pushing to get
facilities up and running as soon as possible".
"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."
Mr
Birn added that most of the Canadian sands oil produced was sent to the
US mid-west for processing, and that a knock-on effect would be that
refineries there would be having to look for alternative sources,
"which comes with additional costs for them".
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The fire is now 1,366 square miles (3527km) and conditions are getting more dangerous for fire fighters north of Fort McMurray.
It
is moving east and encroaching the border with Saskatchewan, officials
said on Tuesday, and continuing to "burn out of control".
The Alberta government is taking a "second look" at plans for re-entry into Fort McMurray, said Alberta premier Rachel Notley.
"We're not going to have people going back until we know it's safe," she said.
She said said it is unclear when oil production can resume.
Gas service has returned to 60% of the city and electricity is restored in undamaged areas, she said.
Workers who were sent to Fort McMurray to begin working on the hospital have now been evacuated.
Alberta Highway 63 is likely to be threatened and could be closed for a period of time, she said.
Canada's oil sands industry
- Oil sands are a mixture of sand, water, clay and a thick, heavy oil called bitumen
- Bitumen is extracted using surface mining and drilling, and must be treated before it can be turned into petrol and other usable fuels
- Canada has the third largest oil reserves in the world after Venezuela and Saudi Arabia
- The Alberta oil sands produced about 2.3 million barrels a day in 2014
Source: Alberta government
Canada's black gold oil rush
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Canadian Finance Minister Bill Morneau told CBC News that the cost of the disaster was still being evaluated.
"We're obviously going to stand shoulder to shoulder with the people in Fort McMurray and rebuild the city," he said.
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