The Economic Times

Canada to boost oil output as Iran war disrupts Strait of Hormuz, triggering global supply shock and price surge

Canada is increasing its crude oil output by 140,000 barrels daily starting in April. This move supports a global effort to stabilize energy markets amid disruptions from the Iran conflict. The additional oil comes from planned expansions in Alberta's oil sands. This boost aims to ease supply pressures and market volatility affecting global energy routes.