July 31 (Reuters) - Canadian oil producer Imperial Oil ( IMO )

beat quarterly profit estimate on Friday, as its

earnings doubled on higher crude prices and stronger refining

margins, offsetting lower oil-sands production and planned

refinery maintenance.

Higher oil prices, buoyed by Middle East supply fears after

months of Israel-Iran strikes, have handed oil sands companies a

windfall, while also bolstering Canada's pitch as a safer,

chokepoint-free alternative to Gulf crude.

Industry refining margins improved in the second quarter of

2026, impacted by global product supply disruptions.

The company said its total upstream production was 414,000

barrels of oil equivalent per day (boepd) in the quarter, below

427,000 boepd from a year earlier, due to lower volumes at Kearl

and Syncrude.

Imperial has updated its refinery throughput and refinery

utilization outlook ranges for 2026 from 395,000 - 405,000

barrels per day and 91% - 93% utilization to 370,000 - 380,000

barrels per day and 85% - 88% utilization.

The company's refinery quarterly throughput averaged at

331,000 barrels per day (bpd) in the second quarter from 376,000

bpd a year earlier, due to planned turnaround work at the

Strathcona refinery and unplanned downtime.

The Calgary, Alberta-based company posted an adjusted profit

of C$4.52 per share for the quarter ended June 30, compared with

analysts' average estimate of C$4.13 per share, according to

data compiled by LSEG.

($1 = 1.4025 Canadian dollars)