February 5, 2026

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More oil production in Venezuela could hurt Canada’s oilpatch

More oil production in Venezuela could hurt Canada’s oilpatch

Pumpjacks are pictured drawing oil from wells.

A regime change in Venezuela could both help that country regain its former prominence as an oil producer and pose a threat to Canada’s industry, which is producing record amounts of oil and is expected to continue to grow for several more years.

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