The Government of Canada is set to announce new measures to help Canadians save on energy bills. The Honourable Tim Hodgson, Minister of Energy and Natural Resources, and the Honourable Julie Dabrusin, Minister of Environment, Climate Change and Nature, will make the announcement on Monday, June 29, 2026, at 8 a.m. ET. The initiative aims to build a clean, affordable future for Canadians.

The announcement will take place on the margins of the International Energy Agency (IEA) 11th Annual Global Conference on Energy Efficiency in Montreal. The event is co-hosted by Ministers Hodgson and Dabrusin, along with Dr. Fatih Birol, Executive Director of the IEA, in partnership with Hydro-Québec.

Event Details

Accredited media are required to pre-register by 4 p.m. ET on Friday, June 26, 2026. Registration must be completed by emailing media@nrcan-rncan.gc.ca and filling out the online form for the IEA conference. Participation details will be provided after registration.

The announcement underscores Canada's commitment to energy efficiency and affordability. Further details will be shared during the media availability following the announcement.

The International Energy Agency has provided updated guidance on global oil market recovery, stating that restarting oil and gas production to pre-crisis levels will require weeks or months. This assessment comes as the agency continues monitoring substantial transformations in global oil markets due to ongoing conflicts in the Middle East region.

Recovery Timeline Assessment

According to the International Energy Agency's latest statement, the restoration of oil and gas production to pre-crisis levels represents a significant challenge that will extend over weeks or potentially months. This timeline reflects the complexity of restarting energy infrastructure and production facilities that have been affected by the current crisis.

Market Transformation Analysis

The agency's assessment underscores the significant impact of geopolitical tensions on global energy dynamics. The oil markets are undergoing what the organization characterizes as major changes, with these developments directly linked to the conflicts currently affecting the Middle East, a region that plays a crucial role in global oil production and supply chains.

Production Recovery Challenges

The International Energy Agency's timeline for production recovery highlights the extended nature of energy market disruptions. The weeks-to-months timeframe indicates that market participants should prepare for continued volatility and supply constraints as the industry works to restore normal production levels.

Regional Impact Assessment

The Middle East conflicts have emerged as a primary driver of the current market shifts, according to the agency's evaluation. The International Energy Agency's statement reflects the organization's monitoring of how geopolitical developments in this strategically important region are influencing global oil market conditions and production capabilities.