TORONTO, April 8 (Reuters) - The CEOs of two Canadian

oil and gas producers said on Tuesday they are seeking to avoid

making rash decisions, as global oil prices hover around

four-year lows and recession fears grow.

Doug Bartole, CEO of Calgary-based InPlay Oil ( IPOOF ), said

his company does not foresee reducing production or capital

spending in the short term, despite the recent tariff-related

fall in oil prices.

"Don't make any rash decisions. Let's take a longer view of

things and see where it all settles out," Bartole said in an

interview in Toronto.

But he said that could change if oil continues its slide.

"I think $50 oil would change things a bit more, obviously,"

Bartole said. "We can easily pull back capital. We're a small

company, we're nimble. We make decisions quick."

Brent futures and West Texas Intermediate crude futures have

slumped since U.S. President Donald Trump's April 2 announcement

of broad tariffs.

Oil prices steadied on Tuesday as a recovery in equity

markets was outweighed by recession fears exacerbated by trade

conflict between the United States and China, the world's two

biggest economies.

Brent futures were up 33 cents, or 0.5%, at $64.54 a

barrel at 1400 GMT. WTI crude futures rose 41 cents, or

0.7%, to $61.11.

Chris Carlsen, CEO of Canadian natural gas producer

Birchcliff Energy ( BIREF ), said the sector is concerned about

the potential for a global recession, though he said many

Canadian companies are well-positioned to handle a $60 oil price

environment.

He said the slide in oil prices could benefit natural gas

producers in the long term if it leads to an overall reduction

in North American drilling.

"When they're drilling less oil, there's less associated gas

with that, which means we could be short on the natural gas

production side," Carlsen said.