The Globe and Mail reports in its Thursday, July 27, edition that Crescent Point Energy reported its second quarter profit fell by 36 per cent year-over-year as global oil prices declined from 2022's dramatic peaks. A Canadian Press dispatch to The Globe reports that Crescent Point earned $212.3-million in the three-month period ended June 30, 2023, down from $331.5-million in the same period a year ago. Its operating results are still "solid," said RBC Capital Markets analyst Michael Harvey on Wednesday. He pointed out Crescent Point's adjusted funds from operations for the quarter, which work out to $1.01 a share, beat Wall Street's expectations of 97 cents per share. During the quarter, Crescent Point also returned 60 per cent of its free cash flow to shareholders via dividends and share repurchases, for a total of almost $167-million. The decline in earnings, however, coincided with weakening crude oil prices due to slowing global economic growth and the fading of concerns about supply disruptions as a result of the war in Ukraine. Crescent Point says its average selling price in the quarter was $67.31 per barrel of oil equivalent, down from $109.44 a year earlier.