Enbridge may be less affected than producers by the new Venezuelan oil supply due to its role in distributing oil.
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Did you know that Donald Trump’s announcement could crush the Canadian oil industry this week? 🚨 This isn’t...
Jan 7, 2026
The reel discusses how Donald Trump's announcement regarding Venezuela supplying oil to the US could negatively impact Canadian oil companies. It highlights that Venezuela is immediately sending 50 million barrels of oil, which will be sold at market price, potentially displacing Canadian oil exports to the US.
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Suncor will face increased competition due to immediate Venezuelan oil supply to the US.
Canadian Natural Resources (CNQ) will face increased competition due to immediate Venezuelan oil supply to the US.
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