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Nations Release Oil Reserves, Canada Benefits

Published 4 weeks, 1 day ago
Description

Thirty-two nations, including Canada, agree to release four hundred million barrels from strategic oil reserves to cool surging prices triggered by the war in the Persian Gulf. Canada, a major producer, will boost output rather than tapping stored reserves. Higher prices could boost Canadas economy, but a spike above one hundred dollars could slash global demand and hurt exports.

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