Canada Warned Against Rushing into Oil Deals Amid Venezuela's Production Struggles

Canada's oil production has decreased significantly since Hugo Chávez took control of Venezuela's state-owned oil and gas company in 2000. At that time, Venezuela produced over three million barrels of oil per day.

Currently, the country struggles to produce just one and a half million barrels per day, with up to 300,000 used for internal consumption.

Sonia Rajani from Ottawa suggests Canada should not rush into unfavourable deals or projects. Instead, she recommends diversifying the economy, particularly in Alberta, investing in alternative energy sources, and finding new markets for oil exports.