Category : Search result: world oil production


Venezuelan Oil Could Flow to U.S. in a Year: Expert

A business professor predicts Venezuelan crude could be processed at the Irving Oil refinery in Saint John and head to the U.S. market within 12 months. Get the latest analysis on this potential energy shift.

China eyes Canadian oil after US Venezuela action

Chinese refiners are seeking Canadian crude as a replacement for sanctioned Venezuelan oil, with China buying nearly 40% of Canada's seaborne exports in 2025. Discover the market shift.

Venezuela's Oil Potential Locked by Sanctions, Investment Gap

Venezuela holds the world's largest oil reserves but production is a fraction of its peak. Sanctions and crumbling infrastructure mean its impact on tight global crude markets remains minimal. Discover the barriers to unlocking its potential.

U.S. and Venezuela Strike $2 Billion Oil Export Deal

The U.S. and Venezuela reach a landmark deal for up to $2 billion in crude oil exports, redirecting shipments from China. President Trump announces the agreement, which follows the capture of Nicolas Maduro.

Deloitte: Oil to hover at US$58, Alberta gas rises

A new report from Deloitte predicts oil will average US$58 a barrel in 2026 due to a persistent supply glut, while natural gas prices in Alberta show an upward trend. Read the full analysis.

Record $9.6M fine for Gulf of Mexico oil spill

U.S. authorities levy a historic $9.6 million penalty against Third Coast following a substantial oil spill in the Gulf of Mexico, highlighting ongoing environmental risks.

Canadian Oil Prices Weaken After Venezuela Upheaval

The dramatic capture of Venezuela's president by U.S. forces has sent shockwaves through North American oil markets, weakening Canadian heavy crude prices. Discover the immediate impact and long-term outlook for Alberta's energy sector.

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