Canada will ramp up crude oil production by 140,000 barrels per day beginning in April, joining a coordinated push by the International Energy Agency to ease supply pressures triggered by the ongoing Iran conflict and escalating disruptions in global energy markets.
According to the Global News website, Canada will supply 23.6 million barrels under a coordinated release led by the International Energy Agency, Natural Resources Minister Tim Hodgson confirmed, as part of a record 400 million-barrel global effort by oil-producing nations.
Officials said the rise in Canada’s oil output is not tied to emergency measures, with the additional barrels instead coming from previously planned expansions in Alberta’s oil sands production.
According to the Global News website, the planned output boost represents a 2.6 per cent increase in Canada’s oil supply, based on its 2025 average production of 5.3 million barrels per day, according to the Canada Energy Regulator.
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The crisis follows a sharp escalation in the Iran conflict after US and Israeli strikes, triggering widespread disruption across global energy routes. Iran’s actions have severely impacted shipping through the Strait of Hormuz, a corridor that typically carries about 20 per cent of the world’s oil supply.
Shipping through the Strait of Hormuz has nearly collapsed amid the war, with Iran attacking commercial vessels and likely deploying naval mines, according to the UK defence minister.
With tanker traffic curtailed and vessels under threat, global supply chains have tightened, driving oil prices sharply higher and fuelling market volatility.
