Energy experts say President Donald Trump’s push to revive Venezuela’s oil market boosts the United States' leverage with China, while putting Canada at a disadvantage.

B.C. Premier David Eby wants Canada to prioritize building refineries, arguing it would keep more value at home, reduce reliance on U.S. buyers, and cut exposure to global supply disruption

Canadian heavy oil prices are plunging this week following the upheaval in Venezuela over the weekend and the prospect of more Venezuelan oil imports to the United States.

Canadian oil stocks slide as Venezuela headlines fuel uncertainty, while broader geopolitical risks may pose a more immediate challenge.

Canadian oil stocks fell broadly as the US capture of Venezuela's President Maduro threatens to pose problems for the country's oil producers, especially those focused on Canadian oil sands.

A full-scale resumption of Venezuelan oil exports would benefit refiners in the United States and lower their fuel production costs, with the refineries capable of absorbing most of the roughly 1 million barrels per day of crude if U.

Robert Johnston, director of energy and natural resources policy at the University of Calgary’s School of Public Policy, said he was heartened that the Prime Minister made the comments to help calm market fears that resulted in a selloff in Canadian energy shares on Monday.

Canadian crude prices on the US Gulf Coast plummeted, Bloomberg reported, after President Trump said Venezuela would give up 30 million-50 million barrels of oil to the US.

Shares in Canada's biggest oilsands producers came under pressure Monday after the U.S. military captured the Venezuelan leader and President Donald Trump announced plans to put that country's

China, in particular, may emerge as a bigger buyer of Canadian crude if oil production from Venezuela is rerouted

Canadian oil stocks fell on Monday after the US seizure of the Venezuelan leader and plans for American companies to operate in the Latin American country.