10:35 AM EST, 11/24/2025 (MT Newswires) -- RBC Capital Markets in a '2026 Budget Preview' Monday named Suncor Energy ( SU ) and Canadian Natural Resources ( CNQ ) as its top picks among integrated oil and exploration and production companies.

RBC said it continues to favor energy producers with solid execution capabilities, strong balance sheets and cash flow diversification. It added Suncor is its favorite integrated producer while CNQ is its favorite producer. Both companies are part of RBC's Global Energy Best Ideas List.

In advance of forthcoming 2026 budget releases, RBC framed its outlook for production

and capital investment across the sector.

"On balance, we are broadly in-line with FactSet consensus on equivalent production and capital spending expectations, with slightly more variance on the capital side," RBC said.

"We believe that producers will remain vigilant in 2026 when it comes to maintaining capital discipline and balance sheet strength, optimizing organic production growth (particularly in the oil sands) and displaying an ongoing commitment to generating free cash flow and shareholder returns, especially given soft oil market fundamentals," it added.

Price: 62.18, Change: -0.25, Percent Change: -0.40