Imperial Oil lifts 2026 forecast for spending, output to boost cash flow, cut costs

Core Viewpoint - Imperial Oil plans to increase capital spending and upstream production in 2026, focusing on higher-return oil sands projects to lower costs and enhance profitability [1] Group 1: Capital Spending - The company intends to double its capital spending as part of its strategy to invest in oil sands projects that promise higher returns [1] Group 2: Production Plans - Imperial Oil aims to boost upstream production in 2026, aligning with its commitment to enhance operational efficiency and cost management [1] Group 3: Strategic Focus - The focus on oil sands projects indicates a strategic shift towards maximizing returns in a competitive energy market, reflecting the company's long-term growth objectives [1]