Suncor Energy (SU) Projects Higher Oil and Gas Production in 2026

Suncor Energy Inc. (NYSE:SU) is included among the 12 Best Crude Oil Stocks to Buy for Dividends.

Suncor Energy (SU) Projects Higher Oil and Gas Production in 2026

Suncor Energy Inc. (NYSE:SU) is a Canadian integrated energy company that extracts, produces, and provides energy from a mix of sources, ranging from oil sands to renewable fuels.

Suncor Energy Inc. (NYSE:SU) reported its outlook for FY 2026 on December 11, with the company projecting higher oil and gas production during the year, despite a cut in spending. The energy operator expects upstream production of 840,000 – 870,000 barrels per day (bpd) next year, up from its estimate of 810,000 – 840,000 bpd for FY 2025. At the same time, Suncor is forecasting its capital expenditure for next year to range between C$5.6 billion and C$5.8 billion, down from its 2025 forecast of C$6.1 billion to C$6.3 billion.

Moreover, Suncor Energy Inc. (NYSE:SU) reiterated its commitment to shareholders by reaffirming that the company would continue returning 100% of excess funds to shareholders. Suncor increased its monthly share buybacks by 10% in December to C$275 million, and projected C$3.3 billion in total buybacks in 2026.

Following the encouraging outlook, on December 12, TD Securities raised its price target on Suncor Energy Inc. (NYSE:SU) from C$71 to C$73, while maintaining a ‘Buy’ rating on the shares.

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