Imperial Oil's Q3 profit fell to $1.24 billion, impacted by lower refining margins and oil prices.

Imperial Oil, Canada's largest oil producer, reported a third-quarter profit of $1.24 billion, down from $1.6 billion a year earlier, attributed to lower refining margins and weaker oil prices, particularly in China. Brent crude prices fell nearly 9% to $78.30 per barrel. While overall production rose to 447,000 barrels of oil equivalent per day, refinery throughput decreased due to maintenance at key facilities.

November 01, 2024
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