(Reuters) -Canadian Natural Resources Ltd on Wednesday forecast increased production for 2023, as it seeks to capitalize on higher oil and gas prices and set a new environmental target. Demand for oil and gas surged following sanctions on Russia after it invaded Ukraine, as Europe scrambles to replace gas from Russia and improve long-term energy security. Calgary, Alberta-based Canadian Natural, Canada's biggest oil producer, said it expects total 2023 production to be 4% higher than this year and it expects to eventually return more money to shareholders.
Today's Research Daily features new research reports on 16 major stocks, including Exxon Mobil Corporation (XOM), Meta Platforms, Inc. (META) and Eaton Corporation plc (ETN).
CNQ's third-quarter earnings and sales beat the consensus mark due to high energy prices and increased production.