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Canadian Natural reports first-quarter profit beat
Gulf Today
|May 11, 2025
Canadian Natural Resources Ltd, the country’s largest oil producer, reported a better-than-expected first-quarter profit and record production on Thursday, helped by stronger Canadian heavy crude prices that persist in the wake of the opening of additional pipeline export capacity last year.
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Producers in Canada have benefited this spring from a historically tight price discount on heavy oil versus US benchmark crude, helping cushion the blow from a significant fall in global oil prices.
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