Canadian Natural tops profit estimates as higher oil prices and output lift results
Canadian Natural Resources beat analysts' third-quarter profit forecasts on higher crude prices and stronger production, Reuters reports.
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what happened
Canada's largest oil and gas producer, Canadian Natural Resources, reported third-quarter profit above analysts' expectations. Adjusted earnings came to C$1.65 per share for the three months ended September 30, against an average forecast of C$1.45 per share, according to LSEG data. Higher oil prices following the Iran conflict and rising output supported the result.
The company's realized price for liquids production averaged C$95.93 per barrel, up from C$72.57 a year earlier. Output rose to 1.65 million barrels of oil equivalent per day from 1.62 million boepd a year earlier. The Calgary, Alberta-based company's figures were reported by Reuters.
why it matters
For markets, the point is that long-life oil sands assets benefit from high prices, although planned maintenance and operational limits constrain production growth. The report shows how higher crude prices are feeding through to the earnings of Canada's big producers.
market impact
Canadian Natural shares and Canadian oil producers: strong results support the sector
tags
instruments
on polymarket
sources
- Canadian Natural beats profit estimates on higher oil prices, output — Reuters, 5 November 2026 at 09:47 UTC
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