CP NewsAlert: Carney says Canadian oil will be competitive after Maduro ouster

  • Canadian Press

Prime Minister Mark Carney speaks to the media at the Canadian Embassy in Paris, France on Tuesday, Jan. 6, 2026. THE CANADIAN PRESS/Christinne Muschi

OTTAWA -- Prime Minister Mark Carney says Canada is working to expand oil markets in Asia with the prospect of Venezuelan oil displacing Canadian product in the American market.

In Paris for talks on Ukraine, Carney was asked if U.S. President Donald Trump wanting to take control of Venezuela's oil industry will heighten the need for a pipeline to B.C.'s northwest coast.

Carney says he sees Canadian oil as being "low risk" compared to Venezuelan oil, which will help it remain competitive.

More coming.