Alberta Premier Danielle Smith says renewed production in Venezuela would see more crude bound for U.S. refineries and create further competition for Canadian oil.

A lifting of U.S. sanctions on Venezuelan crude and a ramp up of production could pose a competitive threat to Canadian supplies in the Gulf Coast market.

Experts say that while Venezuelan oil is similar to crude produced in Canada, it will take some time before the South American country's industry could compete.

U.S. oil producers will likely be the first to cut output should crude prices continue to languish, but their Canadian peers should be able to keep chugging along, experts say.

Trans Mountain said in recent months, the Alberta-to-British-Columbia pipeline that can transport 890,000 barrels a day has regularly been at 90 per cent utilization or higher.

In its annual State of the Industry report, Enserva says total oil and gas capital spending is expected to drop by 5.6 per cent this year and by a further 2.2 per cent in 2026.

For a project he says 'doesn't actually exist,' there was a lot British Columbia Premier David Eby had to say about a potential pipeline from Alberta to B.C.'s northern coast.

CAPP president Lisa Baiton said the new list moves Canada toward becoming a "global energy superpower," something Prime Minister Mark Carney has said repeatedly is his goal.

Three vote delays, two sweetened bids and countless other twists and turns later, MEG Energy shareholders have given their blessing to an $8.6-billion takeover by Cenovus Energy.

Cenovus and Exxon both published their third-quarter financial results on Friday as world oil markets continue to be impacted by Trump tariffs and increased production from OPEC+.