Meanwhile, several Canadian oil and gas companies are taking a hit to their stock price. The Toronto Stock Exchange's energy index was down about 4.5 per cent by midday Monday. Shares of the largest oil and gas companies in the country are trading lower, including Suncor Energy at about four per cent, while Cenovus Energy and Canadian Natural Resources Ltd. dropped about seven per cent. Though stocks of Canadian energy companies are down, Schwartz said it’s likely an overreaction, noting it will likely take years to rebuild Venezuela’s energy sector infrastructure before production could noticeably increase. The weekend removal of President Nicolas Maduro is impacting oil markets, because the country has some of the largest oil reserves around the world.

Source: CBC News January 06, 2026 17:47 UTC