Dec 17 (Reuters) - Canada’s Imperial Oil Ltd on Friday joined its rivals in forecasting higher capital expenditure next year, betting on a recent recovery in commodity prices from pandemic-led historic lows.
Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp expects 2022 spending to be at C$1.4 billion ($1.09 billion), higher than 2021 estimates of C$1.1 billion.
$1 = 1.2821 Canadian dollars Reporting by Rithika Krishna in Bengaluru; Editing by Vinay Dwivedi
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