U.S. crude oil imports from Canada reach highest share on record
According to the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly report, published on Tuesday, Canada supplied 43 percent of all U.S. crude oil imports in 2015, the highest share on record, with no signs of slowing.
U.S. gross crude oil imports averaged 7.4 million barrels per day (b/d) last year, according to the report. Imports were 27 percent higher in 2005 when averages reached a high of 10.1 million b/d, but as rates have declined, the majority of imports are still sourced from the same top U.S. suppliers, including Canada, Saudi Arabia, Venezuela, and Mexico.
Canada has been the primary U.S. crude oil supplier since 2004. Last year, it supplied the largest amount of crude oil to the U.S. to date at 3.2 million b/d, marking a 10 percent increase from 2014 rates. The crude oil supply from Canada is sour and heavy, which is ideal for processing facilities and refineries in the U.S. Facilities in Canada, however, do not function optimally with this type of oil, so Canada in turn imports crude oil from the U.S.
ICanada is the primary importer of U.S. crude oil, importing 422,000 b/d, or 92 percent, of all U.S. crude oil exports last year.
