US EditionCanadian oil stocks down after U.S. forces capture Maduro
The capture raises concerns of Venezuelan oil re-entering markets, pressuring Canadian heavy crude prices with shares of major producers falling up to 8.7%, traders said.
- On Jan. 5, 2026, U.S. forces captured Venezuelan President Nicolás Maduro over the weekend, causing shares of Canada’s big oil companies to fall in early trading.
- Following a U.S. military buildup, the U.S. instituted a naval blockade before capturing Nicolás Maduro, who faces narcoterrorism and drug trafficking charges in U.S. courts.
- Market data showed Suncor Energy Inc. fell $3.53 to $59.08, Canadian Natural Resources Ltd. dropped $3.79 to $43.33, Cenovus Energy Inc. lost $2.08 to $21.97, and Canadian Cold Lake’s discount widened to US$7.30 from US$6.80.
- Maduro has been taken to a U.S. courthouse in New York and is set to appear today, while short-term crude futures hold steady and TD Cowen said the ouster isn’t an "immediate threat" to Canada.
- Looking longer term, reviving Venezuela’s oil industry will take years and cost upwards of US$100 billion, while Canada, the largest producer of heavy crude, has benefited from Venezuela’s decline with similar Alberta oilsands output.
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