As Ottawa gears up to review the Canada-U.S.-Mexico-Agreement (CUSMA), do the developments in Venezuela undercut the Canadians' bargaining position? CBC's The House spoke to experts and former officials about the feasibility of ramping up Venezuelan oil production and the road ahead. Can Venezuela displace Canadian oil? Prime Minister Mark Carney, for his part, said earlier this week he's not worried about the prospect of increased oil production from Venezuela because Canadian oil is cheaper, cleaner and lower-risk. Still, Canadian energy stocks took a hit after the U.S. incursion, as did Canadian heavy oil prices.

Source: CBC News January 11, 2026 01:32 UTC