Suncor reports record production in 2025 despite weak oil prices

Suncor produced 860,000 barrels per day in 2025 and posted net earnings of $1.48-billion for the final quarter while adjusted operating earnings were $1.33-billion.

Suncor reported record production and refining volumes for 2025 while noting weak global oil prices and an oversupplied market. Company leaders said the results reflect internal operational improvements and the early achievement of targets set in 2024. Management also highlighted steps taken after a very wet fall that affected some oil sands operations. Suncor plans to present new three-year goals and a 15-year plan on March 31 in Toronto. Key figures: - The company reported production of 860,000 barrels per day in 2025, 33,000 more than in 2024. - Refining output hit a record 480,000 barrels per day, 15,000 higher than the prior year. - Suncor reported net earnings of $1.48-billion for the last three months of 2025 and adjusted operating earnings of $1.33-billion for the quarter. The company noted adjusted operating earnings were lower than the prior-year quarter, when they were $1.57-billion. - Management said daily oil production has risen roughly 114,000 barrels per day over the past two years, reaching about 909,000, and refining capacity has increased by about 60,000 barrels over that period, as reported by the company. - The company said capital spending was reduced to $5.7-billion over the past two years, achieved a year ahead of schedule, and highlighted maintenance and equipment changes (including an autonomous truck "mud mode") that helped operations during wet conditions. Summary: Suncor says operational improvements and maintenance priorities helped drive record production and refining volumes in 2025 while the market faced weak oil prices. The company will outline new three-year targets and a 15-year plan on March 31 in Toronto, and other future steps were not detailed.