Canada is the fourth largest oil producer in the world and the biggest crude exporter to the United States. But it doesn't have a strategic petroleum reserve. Canada is a net exporter and under IEA rules, net exporters are exempt.That means no government stockpile to cushion price swings. The looney takes the full force of whatever is happening in crude markets right now. That's working in Canada's favor.With Middle East disruptions keeping oil above 90, higher export revenues flow straight into the terms o ...

A key North Sea oil-pricing period saw 12 unanswered bids for cargoes and surging prices, the latest sign of tightness in global crude markets as the Iran war hits global output https://t.co/BtF1eORCnZ ...

Canada is “urgently exploring options” with provinces and the energy industry to boost oil supply, as trade disruptions caused by war in the Middle East spur huge volatility in global crude markets https://t.co/IFQaUgJ5yS ...