3/24, 6:30 PM (Source: TeleTrader)
more TeleTrader news

Canada to increase oil exports - minister

Canada's Minister of Natural Resources Jonathan Wilkinson (pictured) said on Thursday that the country will scale up its oil exports to make up for the oil not coming from Russia, another major crude exporter, due to sanctions.

"Our European friends and allies need Canada and others to step up. They're telling us they need our help in getting off Russian oil and gas in the short term, while speeding up the energy transition across the continent. Canada is uniquely positioned to help with both," the minister said in a statement.

Earlier today, the Group of Seven (G7) issued a statement, urging oil-exporting countries to boost their deliveries and help stabilize international markets.

Baha Breaking News (BBN) / BU