{"id":529932,"date":"2026-03-11T21:09:06","date_gmt":"2026-03-11T21:09:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/529932\/"},"modified":"2026-03-11T21:09:06","modified_gmt":"2026-03-11T21:09:06","slug":"canada-will-do-its-part-to-help-iea-release-of-oil-reserves-hodgson-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/529932\/","title":{"rendered":"Canada will ‘do its part’ to help IEA release of oil reserves: Hodgson"},"content":{"rendered":"

Releasing oil from reserves<\/p>\n

Craig Lord, The Canadian Press – Mar 11, 2026 \/ 10:35 am | Story: 603073<\/p>\n

\"Minister<\/p>\n

Photo: The Canadian Press<\/p>\n

Minister of Energy and Natural Resources Tim Hodgson announced an investment of $22 million to fund domestic battery innovation and manufacturing in Montreal, on Friday, Oct. 3, 2025. THE CANADIAN PRESS\/Christinne Muschi<\/p>\n

Natural Resources Minister Tim Hodgson says Canada will “do its part” 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

The International Energy Agency says it has agreed to release 400 million barrels of oil from member nations’ stockpiles \u2014 the largest release of reserves in the organization’s history.<\/p>\n

Hodgson says Canada will contribute to that release but hasn’t said what form that would take.<\/p>\n

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

Hodgson says Canada’s 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

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","protected":false},"excerpt":{"rendered":"Releasing oil from reserves Craig Lord, The Canadian Press – Mar 11, 2026 \/ 10:35 am | Story:…\n","protected":false},"author":2,"featured_media":529933,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[49,48,295,66],"class_list":{"0":"post-529932","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-environment","8":"tag-ca","9":"tag-canada","10":"tag-environment","11":"tag-science"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/529932","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=529932"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/529932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/529933"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=529932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=529932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=529932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}