Ottawa, March 14 -- Canada will contribute 23.6 million barrels of oil to a coordinated global release aimed at stabilising energy markets after disruptions in the Strait of Hormuz triggered sharp volatility in global oil prices.

According to the Canadian government, the country will meet its commitment primarily through increased oil production coordinated with provincial governments and domestic energy companies.

Energy analysts say the emergency release reflects growing concern about the disruption of oil shipments through the Strait of Hormuz, a critical maritime chokepoint that normally carries roughly 20% of the world's seaborne oil trade.

The coordinated intervention is intended to ease pressure on global fuel prices and prevent...