IEA Executive Director Birol: The International Energy Agency has so far released only about 20% of its total oil reserves and is “ready to take further action at any time if necessary.”
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Canada must ensure it finds new export destinations for its oil production. As countries seek new energy trade partners in the aftermath of the Iran crisis, Canada is an obvious choice. With the ongoing US-Iran war, the market is entering “deep waters of volatility.” Once the US-Iran war ends, the return of supply will be gradual, which will lead to market fluctuations.
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