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The increase in rationing threatens to widen the discount for Canadian oil at a time when crude prices are already falling amid a glut of supplies.

U.S. military forces seized a seventh tanker near Venezuela on Jan. 20 as the Trump administration continues to pressure the South American country to halt its use of sanctioned ships.

The U.S. government plans to allow more trading companies beyond Vitol Group and Trafigura Group to purchase Venezuelan crude, a Trump administration official said.

Venezuela’s acting President Delcy Rodríguez used her first state of the union message Jan. 15 to advocate for opening the crucial state-run oil industry to more foreign investment.

The states of Michigan, New Jersey, Minnesota and Florida adopted fuel-tax increases for 2026, while just one state — Utah — reduced its motor fuel tax rates.

The supertanker Marbella, whose location was a mystery for more than a year, turned on its transponder this past weekend to reveal it was sitting off the coast of Venezuela.

The Veronica is the fourth tanker seized since the U.S. ouster of Venezuela President Nicolás Maduro in a surprise nighttime raid almost two weeks ago.

The global oil industry is working through the consequences of Washington’s move. For shipowners, that means higher rates on some routes as current and future oil flows are redirected.

Honda’s sales of EVs will take a back seat to gas-fueled cars and SUVs in response to growing demand for low-cost models, said Lance Woelfer, the head of Honda’s U.S. sales operations.

TotalEnergies CEO Patrick Pouyanne said it would take years to increase Venezuela’s oil output to above 3 million barrels a day from less than 1 million currently.