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Canada's Imperial Oil posts fall in quarterly profit on lower crude prices
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Canada's Imperial Oil posts fall in quarterly profit on lower crude prices
Aug 1, 2025 5:28 AM

Aug 1 (Reuters) - Canadian oil producer Imperial Oil ( IMO )

posted a fall in second-quarter profit on Friday, hurt

by lower crude prices and a decline in refinery throughput.

Benchmark Brent crude prices were lower during the

April-June quarter compared to a year earlier, pressured by weak

global demand, market volatility due to tariffs and increased

oil supply from OPEC+.

The company's refinery throughput volumes fell to 376,000

barrels per day during the second quarter from 387,000 bpd a

year ago.

The Calgary, Alberta-based company said its net income fell

to C$949 million ($684.31 million), or C$1.86 per share, in the

quarter ended March 31, from C$1.13 billion, or C$2.11 per

share, a year earlier.

($1 = 1.3868 Canadian dollars)

(Reporting by Katha Kalia in Bengaluru; Editing by Shinjini

Ganguli)

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