Canada and Norway are capitalizing on the Middle East energy crisis by boosting oil and gas exports to Asian and European markets. Canadian Energy Minister Tim Hodgson declared "Canada's moment" as the country's producers position themselves as reliable suppliers amid the biggest disruption to energy supplies in history, following the Iran conflict's impact on global markets.

Norway's Equinor plans to increase international production by 25% to 900,000 barrels per day by 2030. CEO Anders Opedal highlighted the Wisting field project as critical for European energy security. The conflict has delivered a windfall as crude prices surged 30% since Tehran shut the Strait of Hormuz, choking off about a fifth of global supplies.

Shell's CEO Wael Sawan warned of "serious physical strains" across energy markets as the crisis spreads from South Asia to Europe. Canada's oil producers stand to gain an additional $65 billion this year. Prime Minister Mark Carney seeks new markets beyond the US as his government supports pipeline construction to expand export capacity to the Pacific coast amid growing global demand.