{"id":529677,"date":"2026-03-11T18:38:11","date_gmt":"2026-03-11T18:38:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/529677\/"},"modified":"2026-03-11T18:38:11","modified_gmt":"2026-03-11T18:38:11","slug":"canada-will-do-its-part-to-help-iea-release-of-oil-reserves-hodgson","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/529677\/","title":{"rendered":"Canada will &#8216;do its part&#8217; to help IEA release of oil reserves: Hodgson"},"content":{"rendered":"<p>OTTAWA \u2014 Natural Resources Minister Tim Hodgson says Canada will \u201cdo its part\u201d to lower the cost of oil globally as a bloc of nations looks to tame the surge in energy prices triggered by the war in the Middle East.<\/p>\n<p>The International Energy Agency says it has agreed to release 400 million barrels of oil from member nations\u2019 stockpiles \u2014 the largest release of reserves in the organization\u2019s history.<\/p>\n<p>Hodgson says Canada will contribute to that release but hasn\u2019t said what form that would take.<\/p>\n<p>He says Canada is in discussions with its energy industry to determine how to support the release and he expects to say more in the next day or two.<\/p>\n<p>Hodgson says Canada\u2019s oil industry is already producing at capacity but options include delaying downtime or asking refineries working with imported oil to switch to domestic alternatives to free up supply elsewhere.<\/p>\n<p>Recent spikes in global oil prices come as the war in the Middle East has halted oil shipments through the critical Strait of Hormuz.<\/p>\n<p>This report by The Canadian Press was first published March 11, 2026.<\/p>\n<p>\u2014 with files from Nick Murray and The Associated Press<\/p>\n<p>Craig Lord, The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"OTTAWA \u2014 Natural Resources Minister Tim Hodgson says Canada will \u201cdo its part\u201d to lower the cost of&hellip;\n","protected":false},"author":2,"featured_media":529678,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194292],"tags":[49,48,2338],"class_list":["post-529677","post","type-post","status-publish","format-standard","has-post-thumbnail","category-montreal","tag-ca","tag-canada","tag-montreal"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/529677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=529677"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/529677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/529678"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=529677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=529677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=529677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}