• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 14 minutes Saudi Fund Wants to Take Tesla Private?
  • 18 minutes California Solar Mandate Based on False Facts
  • 1 hour Starvation, horror in Venezuela
  • 1 hour Monsanto hit by $289 Million for cancerous weedkiller
  • 8 hours WTI @ 69.33 headed for $70s - $80s end of August
  • 4 hours Why hydrogen economics is does not work
  • 12 hours Saudi Production Cut or Demand Drop?
  • 7 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 15 mins Oil prices---Tug of War: Sanctions vs. Trade War
  • 21 mins Correlation does not equal causation, but they do tend to tango on occasion
  • 13 hours What Turkey Sanctions Are Really About
  • 28 mins Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 10 hours Merkel, Putin to discuss Syria, Ukraine, Nord Stream 2
  • 6 hours Saudi Aramco IPO Seems Unlikely
  • 13 hours < sigh > $90 Oil Is A Very Real Possibility
Alt Text

Is A Supply Crunch In Oil Markets Inevitable?

Several energy agencies and forecasters…

Alt Text

$90 Oil Is A Very Real Possibility

Saudi Arabia appears intent on…

Alt Text

A Price Spike Looms For Natural Gas

U.S. natural gas inventories are…

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Trending Discussions

U.S. Energy Imports From Canada Now Value $53 Billion

Canada Oil

The EIA outlined the United States’ energy trade with Canada in a note today, profiling the U.S.’s primary energy trade relationship. According to the Census Bureau, energy accounted for about 5 percent of the value of all U.S. exports to Canada and more than 19 percent of the value of all U.S. imports from Canada in 2016. For 2016, the value of U.S. energy imports from Canada was $53 billion, while the value of U.S. energy exports to Canada was $14 billion.

(Click to enlarge)

Source: EIA

The majority of U.S. energy imports from Canada are in the form of crude oil, according to the EIA. Canada is by far the largest source of U.S. crude oil imports, providing 41 percent of total U.S. crude oil imports in 2016. The volume of crude imports has increased since 2014, from around 90 MMBBL/month to around 110 MMBBL/month. The value of these imports has decreased, however, from $83 billion in 2014 to $36 billion in 2016.

Virtually all U.S. crude oil exports went to Canada until the export ban was lifted in 2013. Since this time the U.S. has significantly increased exports to other countries. Canada remains the primary export destination, though, receiving 58 percent of U.S. crude oil exports in 2016.

(Click to enlarge)

Source: EIA

The trade in petroleum products between the two nations is relatively balanced, with imported and exported values and volumes similar. The specific products exported and imported by the U.S. is quite different, though. The U.S. imports primarily gasoline from eastern Canada for markets in the northeast. Little of the United States’ exports to Canada are gasoline, instead pentanes plus, LPG and other oils dominate. Related: Exxon Betting Big On U.S. Shale

The vast majority of U.S. natural gas imports, 97 percent, come from Canada. The U.S. imported 8 Bcf/d in 2016, according to the EIA. Western Canadian gas is transported via pipeline to the West, Midwest, and Northeast. The U.S. does export some natural gas to Canada, mostly to Ontario and Quebec, but only about 2 Bcf/d in 2016.

The rise of the Marcellus and Utica, though, has had a significant effect on the U.S. natural gas trade balance. The northeast states are much less dependent on Canadian gas, and may export increased volumes in the future.

By Oil and Gas 360

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News