Venezuela Oil Shift: Impact on Canadian Industry
Update: 2025-12-10
Description
Venezuelas oil sanctions and potential policy shifts could significantly impact global oil prices and the Canadian oil industry. Despite a recent recovery in exports, Venezuelas production has plummeted from three million barrels daily to around nine hundred thousand. Sanctions and mismanagement have contributed to this decline. However, a change in government could potentially lift sanctions, leading to a price drop and increased demand for Canadian oil in new markets like China.
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