Canadian oil producers are positioned to end 2025 positively despite a decline in Brent crude prices, which are down over 17% year-to-date. Companies like Canadian Natural Resources and Imperial Oil report gains and plan to increase capital spending and production. However, forecasts indicate a global oil surplus in 2026, with Brent prices expected to average between $55 and $60 per barrel, driven by oversupply and weakening demand.
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