Canadian Natural Resources Limited Raises 2026 Production Forecast

Canadian Natural Resources Limited raised its full-year 2026 production forecast for the second time this year, now projecting an average of 1.637 million to 1.682 million barrels of oil equivalent per day. The company reported an adjusted second-quarter profit of $2.19 per share, surpassing the $1.90 per share estimate predicted by analysts.

These financial gains were driven by record production levels and an increase in crude prices, which resulted from strong refinery demand and supply disruptions in the Middle East. The company's realized price for exploration and production liquids rose 51% year-over-year to $105.11 per barrel, while synthetic crude prices increased 44% to $125.78 per barrel.

Additional growth was supported by the results of conventional drilling and the integration of assets acquired during the second quarter.