Low prices over a longer horizon Crescent Point Energy on Friday forecast lower capital spending and output in 2021, the latest oil producer to focus on conserving cash, as it prepares for low prices over a longer horizon. A Reuters dispatch to the Post reports that Crescent Point's reduction in output also comes at a time that Canadian oil companies are restoring output that they shut in, as prices recover from pandemic lows. The Calgary-based company said it expects average production of 108,000 to 112,000 barrels of oil equivalent per day (boepd) in the coming year, as pace of activity remains low. The company, which focuses primarily on light oil production in southern Saskatchewan, said it expects capital expenditures of $475-million to $525-million next year, with majority of the budget allocated to its key focus areas in Viewfield, Shaunavon and Flat Lake.
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