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Company News

Oil producer Crescent Point cuts 2019 budget on oil price plunge

Jan 15 (Reuters) - Canadian oil producer Crescent Point Energy Corp on Tuesday slashed its 2019 capital budget by 30 percent compared to 2018, blaming the recent decline in oil prices .

The company sees capital expenditure in the range of C$1.2 billion ($904.70 million) to C$1.3 billion in 2019. It’s budget forecast for last year was C$1.78 billion. ($1 = 1.3264 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Shinjini Ganguli)

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