As oil prices fell after the US took military action to arrest Venezuelan President Nicolas Maduro last weekend, the Canadian dollar and Norwegian krone fell. The market is concerned that Venezuela's huge crude oil reserves may eventually lead to an increase in production, putting pressure on oil prices. Goldman Sachs analysts pointed out in the report: “Combined with recent Russian and US production exceeding expectations, the potential growth in Venezuela's long-term production has further exacerbated the downside risk of our oil price forecast for 2027 and beyond.”

As oil prices fell after the US took military action to arrest Venezuelan President Nicolas Maduro last weekend, the Canadian dollar and Norwegian krone fell. The market is concerned that Venezuela's huge crude oil reserves may eventually lead to an increase in production, putting pressure on oil prices. Goldman Sachs analysts pointed out in the report: “Combined with recent Russian and US production exceeding expectations, the potential growth in Venezuela's long-term production has further exacerbated the downside risk of our oil price forecast for 2027 and beyond.”