Buy CNQ by Mar 19, 2026.

This is the mechanism: 1. PADD 3 refiners (Valero, Chevron, Phillips 66) are historically short on heavy sour crude due to Mexican export cuts 2. Refiners will draw down commercial inventories 3. If the coup takes longer than 30 days, inventories hit critical lows 4. Bid up Canadian WCS to panic levels 5. CNQ targets 1.59 – 1.65 million BOE/d in 2026, with \~25% as heavy sour crude. WCS goes up, profit margins for CNQ goes up 6. CNQ goes …