That's drawing scrutiny of Canada's oil reserves — or, rather, its lack of them, as Canada is the only nation in the G7 that doesn't maintain a strategic reserve. But why doesn't Canada have a strategic reserve, and what can the country do to help boost the world's supply? | About That | Duration 9:48 Oil and gas prices are rapidly rising around the world amid the U.S.-Israel war with Iran. CORRECTION (March 11, 2026): At 2:36 in this video, the graphic incorrectly states Iran holds 298 billion barrels of oil reserves. The U.S. plans to tap some 174 million barrels of oil from its reserves starting next week.

Source: CBC News March 13, 2026 23:01 UTC