Oilsands firm Canadian Natural cuts $...

Oilsands firm Canadian Natural cuts $1 billion from budget due to low oil price

Oilsands producer Canadian Natural Resources is setting its 2019 capital budget at $1-billion less than its "normalized" range but says it will ramp up spending if heavily discounted oil prices in Western Canada rebound. The Calgary-based company says it is targeting a 2019 base capital program of $3.7 billion, about 20 per cent below its preferred range of $4.7 billion to $5.0 billion.

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