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What is a strategic oil reserve? Does Canada have one?

AI Briefing

  • A strategic oil reserve is a stockpile of oil held by a country to stabilize global energy markets and ensure energy security in times of crisis.
  • Canada does not have a single, unified strategic oil reserve, but rather a network of storage facilities across the country managed by the Canadian Strategic Stockpile (CSS) and provincial and territorial authorities.
  • The CSS holds approximately 20 million barrels of oil, which can be released to support Canada's energy needs during times of supply disruptions.
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