An Imperial Oil Ltd. refinery near the Enbridge Line 5 pipeline in Sarnia, Ontario, Canada, on Tuesday, May 25, 2021. Enbridge Inc. said it will continue to ship crude through its Line 5 pipeline that crosses the Great Lakes, despite Michigan Governor Gretchen Whitmer's order to shut the conduit. Photo by Cole Burston / Bloomberg

(Bloomberg) — Imperial Oil Ltd. plans to trim its workforce by about 20% by the end of 2027 as the global crude market faces a potential supply glut.

Imperial will “consolidate activities to its operating sites” and enhance its operational focus, the company said in statement Monday. As a result, the company expects to record a one-time restructuring charge of approximately C$330 million ($237 million) before-tax in the third quarter of 2025.

The cuts are a

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