Canadian Natural Says It Can Break Even at US$40 Oil, Reports Record Production

Canadian Natural Resources logo is shown at the company's annual meeting in Calgary on May 4, 2017. The Canadian Press/Jeff McIntosh

Oil and gas giant Canadian Natural Resources Ltd. says it can weather a crude price much lower than where it’s been trading over the past month.

West Texas Intermediate, a U.S. benchmark for light oil, has been hovering around the US$60-per-barrel mark in recent weeks, about US$10 lower than it was just six months ago.