** Canadian oil producers set to end 2025 on a positive note, with integrated operations, strong refining margins and stable cash flows from long-life reserves cushioning the impact of falling crude prices
** Brent crude futures down over 17% YTD, their steepest annual drop since 2020 and third straight yearly decline
** As of last close, Canadian Natural Resources up 4.7% YTD; lowers capital spending goal for 2026 to focus on efficiency and disciplined growth
** Cenovus Energy gains 7.2% in 2025; co acquires MEG Energy and signals higher 2026 production
** Imperial Oil rises 34.5% YTD; announces plans to boost capital spending and lift upstream production in 2026
** Enbridge gains 7.8% in 2025; expects to benefit from new projects coming online next year
** TC Energy jumps 14.9% YTD, Suncor Energy up 18.9% in 2025
** “Canadian producers remain well-positioned for long-term growth, supported by low-decline, high-quality reserves and easing regulatory overhang,” says TPH Energy Research analyst Jeoffrey Lambujon
(Reporting by Sumit Saha in Bengaluru)