The Financial Post reports in its Friday, April 3, edition that integrated oil and natural gas company Cenovus Energy said on Thursday it would reduce its full-year capital spending by another $150-million and suspend its dividend, citing low global oil prices. A Reuters dispatch to the Post reports that the fall in crude prices has forced producers to look for ways to reduce costs, and Cenovus said its measures included a 25-per-cent cut in compensation for the chief executive officer and board members. The Calgary-based company's other executives will take a 12-per-cent to 15-per-cent reduction in annual base salary, while employees at other levels will experience a graduated smaller salary impact, Cenovus said. Last month, Cenovus announced a near 32-per-cent cut to its capital spending for the year and a temporary suspension of its crude-by-rail program, as an erupting Saudi-Russia oil price war dealt a blow to the struggling Canadian oil industry. The company on Thursday kept its oil sands production outlook unchanged in the range of 350,000 barrels per day (bpd) to 400,000 bpd for the year.