January 5,2026
RED FM News Desk
Shares of major Canadian oil producers dropped in early trading after the U.S. military captured Venezuelan President Nicolás Maduro over the weekend.
Canadian Natural Resources fell $3.79 — about eight per cent — to $43.33, while Cenovus Energy slid $2.08, or roughly 8.7 per cent, to $21.97 on the Toronto Stock Exchange. Suncor Energy shares were also lower, down $3.53 to $59.08.
Although Venezuela holds vast oil reserves, its energy sector has deteriorated after years of neglect and sanctions. U.S. President Donald Trump has suggested that American oil companies could help rebuild the industry.
Maduro has been brought to the United States and is scheduled to make his first court appearance in New York, where he faces narcoterrorism and drug-trafficking charges.
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