November 17, 2016 / 11:47 AM / 10 months ago

Suncor Energy expects higher production, lower spending in 2017

Nov 17 (Reuters) - Canadian oil and gas producer Suncor Energy said it expects its production to grow by more than 13 percent next year and forecasts its spending to fall by more than C$1 billion ($746.21 million).

Oil producers continue to keep a tight lid on spending to cope with a 60 percent fall in oil prices since mid-2014.

Suncor set a budget of C$4.8 billion-C$5.2 billion for 2017 and forecast average production of 680,000-720,000 barrels of oil equivalent per day (boe/d). ($1 = 1.3401 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Martina D‘Couto)

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