Canada Seeks Oil Supply Boost Amid Middle East Conflict

Canada is exploring ways to boost its oil supply in response to market turmoil caused by the war in Iran. The country's energy minister, Tim Hodgson, is working with provinces and industry leaders to identify options for increasing production.

The government is looking at ways to free up additional production capacity by reviewing planned maintenance activities, according to a person familiar with the discussions. Rail shipments remain an option for transporting more oil, though volumes have fallen in recent years as new pipeline capacity became available.

Canada is the world's fourth-largest oil producer, and most of its crude goes to the US. The expanded Trans Mountain pipeline has allowed for a surge in shipments to Asia, with the line running at about 81% utilization in December.