Canadian Natural beats profit estimates
Canadian Natural Resources reported a higher third-quarter profit driven by surging crude prices and increased production. The countrys largest oil and gas producer posted an adjusted profit above analyst expectations.
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Canadian Natural Resources posted an adjusted profit of C$1.65 per share for the third quarter, beating the average estimate of C$1.45 per share. The performance was driven by higher crude prices and increased production volumes across its operations in Canada. The earnings beat highlights the resilience of oil sands producers benefiting from elevated global energy pricing.
