CNRL management commentary attributes Q3 2026 earnings growth to higher oil prices and North American sales volumes
Bitget2026/11/05 09:18- Canadian Natural Resources management commentary reported third-quarter 2026 net earnings of CAD 3 billion, versus CAD 600 million a year earlier.
- Management attributed the improvement primarily to higher North American crude oil prices and sales volumes, alongside stronger synthetic crude pricing.
- Adjusted net earnings reached CAD 3.43 billion, versus CAD 1.8 billion a year earlier, despite lower oil sands sales volumes.
- Sequential earnings declined from CAD 4.5 billion as weaker oil prices and lower oil sands sales volumes weighed on performance.
- The planned Horizon turnaround reduced synthetic crude production to 543,089 barrels daily, lifting oil sands production costs to CAD 25.80 per barrel.
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