Opportunity Crudes

US Gulf Coast (USGC) refiners face an evolving heavy crude supply landscape, necessitating a greater reliance on Canadian imports.

The Trump administration has issued a restrictive license allowing Chevron to maintain a minimal presence in Venezuela, despite the expiration of its broader sanction waiver in Jun.

The Canadian drilling sector is showing signs of recovery from the seasonal

The US government's stance on Chevron's operations in Venezuela remains highly uncertain and contradictory.

Canadian Prime Minister Mark Carney has signaled his support for new pipeline projects, emphasizing the need for consensus and collaborative efforts.

Over the past ten months, more than $1B worth of Venezuelan oil has been sold to China, fraudulently labeled as Brazilian crude, according to Reuters, citing cargo tracking data and unnamed industry sources.

Alberta's oil industry is bracing for significant challenges as WTI crude prices have plummeted to $60/b due to the dual impact of US tariffs and OPEC+'s unexpectedly large production increase.

The country's upcoming federal elections are centered on a strategic pivot to diversify oil and gas markets away from the US, largely due to concerns over proposed US tariffs.

US President Donald Trump has announced a 25%

US imports of Canadian crude oil fell to a two-year low, reaching 3.1MM b/d in the week ending Mar. 14, a decrease of 541K b/d from the previous week.