With Oil Unprofitable, Canadian Producers Are Shutting Down the Pumps [The Motley Fool]
Canadian Natural Resources Limited (CNQ)
Last canadian natural resources limited earnings: 3/5 05:00 am
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US:NYSE Investor Relations:
cnrl.com/investor-information
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Source: The Motley Fool
Oil prices in Canada have historically sold at a discount to those in the U.S. because the country doesn't have the pipeline capacity to get all its production to market centers. That pricing disconnect, however, has widened considerably this year becausedemand for crude has cratered from the COVID-9 outbreak. Western Canadian Select, the main pricing benchmark for oil produced in the oil sands region, recently traded at a record low of less than $ a barrel. At that pricing level, it's unprofitable to produce in the country.In response,Energy companiesare beginning to shut in facilities. These moves, however, while painful for producers in the near term, could accelerate the industry's ability to recover, since it will prevent this oil from piling up in storage.Image source: Getty Images.From a gusher to a trickleLast week,ConocoPhillips(NYSE:COPTotalNYSE:TOTvoluntarily curtail some productionat their Surmont oil sands facility in Western Canada. They're currently cutting back the out
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News
- TFSA Income: 2 Top Canadian Dividend Stocks to Buy Right Now With $7,000 [Yahoo! Finance Canada]Yahoo! Finance Canada
- 1 Magnificent Dividend Stock Down 14% to Buy and Hold for Decades [Yahoo! Finance Canada]Yahoo! Finance Canada
- Dividend Investors: Premier Canadian Energy Stocks to Buy in December [Yahoo! Finance Canada]Yahoo! Finance Canada
- Market Outlook: Canadian bank earnings strengthen as Royal and National post solid results [BNN Bloomberg (Canada)]BNN Bloomberg
- TFSA Income: 2 Premier Canadian Dividend Stocks to Buy Right Now With $10,000 [Yahoo! Finance Canada]Yahoo! Finance Canada
CNQ
Sec Filings
- 11/6/25 - Form 6-K
- 11/6/25 - Form 6-K
- 11/3/25 - Form 6-K
- CNQ's page on the SEC website