Market Snapshot: Annual Trade Summary – Crude Oil
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Release date: 2025-06-11
Canadian crude oil exports averaged 4.20 million barrels per day (MMb/d) in 2024, with 3.33 MMb/d (or 79% of oil exports) consisting of heavy oil, and the remaining 0.87 MMb/d (or 21%) of exports being light oil. This represents a 5.4% increase in the total volume of exports from the previous year. As a result of the Trans Mountain Expansion Project starting up in May 2024, 75% of the increase in Canadian exports were shipped by marine vessels and 70% of the increase in exports were to non-U.S. international markets.
Figure 1: Crude Oil Exports by Type and Province
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Source: CER Commodity Tracking System Statistics – Crude Oil
Text Alternative: This figure shows annualCanadian crude oil exports from 2020 to 2024 broken down by province and oil type. Exports from Alberta have risen each year, with heavy oil exports rising from 2.56 MMb/d in 2020 to 3.10 MMb/d in 2024 and light oil exports from 0.60 MMb/d to 0.71 MMb/d. Heavy oil exports from Saskatchewan have slightly fallen from 0.10 MMb/d in 2020 to 0.09 MMb/d in 2024, while light oil exports remained flat at 0.03 MMb/d. Manitoba exported 0.04 MMb/d of heavy oil in 2020, which fell to 0.03 MMb/d in 2024, while its light oil exports fell from 0.06 MMb/d to 0.05 MMb/d. Heavy oil exports from Newfoundland and Labrador fell from 0.13 MMb/d in 2020 to 0.10 MMb/d in 2024, while light oil exports fell from 0.14 MMb/d to 0.08 MMb/d. For the latest export and import volume data, including updates and revisions, please see the Commodity Statistics page.
Most of Canada’s crude oil is produced in Alberta, which exported 3.81 MMb/d of crude oil in 2024, 91% of total Canadian oil exports. Saskatchewan, Manitoba, Newfoundland and Labrador, and other regions also export smaller volumes of crude oil, although none of them exported more than 0.20 MMb/d in 2024.
The U.S. is the largest importer of Canadian oil, having imported 3.93 MMb/d in 2024 (93% of Canada’s total exports). Most of Canada’s exports to the U.S. go to Petroleum Administration for Defense Districts (PADD) 2 where 2.47 MMb/d were exported in 2024, accounting for 63% of the total to the U.S. PADDs 1, 3, 4, and 5 imported 0.14, 0.69, 0.26, and 0.38 MMb/d respectively. In total, exports to the U.S. increased by 0.05 MMb/d and exports to non-U.S. international markets increased by 0.23 MMb/d.
Canadian crude oil is exported internationally through pipelines, rail, and marine vessels. The majority of Canadian crude oil is transported by pipeline, which accounted for 89% of exports in 2024, while marine accounted for 9% and rail 2%. Exports by pipeline increased by 2% from 2023, while marine exports increased by 72% due to the completion of the Trans Mountain Expansion Project. In the same period, exports by rail fell 10%.
Figure 2: Crude Oil Exports by Transport Mode
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Source: CER Commodity Tracking System Statistics – Crude Oil
Text Alternative: This figure shows annual Canadian crude oil exports from the beginning of 2020 to 2024 by mode of transportation. Marine exports fell from 0.30 MMb/d in 2020 to 0.21 MMb/d in 2023, then rose to 0.36 MMb/d in 2024. Pipeline exports have risen each year since 2020, from 3.21 MMb/d in 2020 to 3.75 MMb/d in 2024. Rail exports have fallen each year since 2020 from 0.17 MMb/d in 2020 to 0.09 in 2024. For the latest export volume data, including updates and revisions, please see the CER – Crude Oil Export Summary page.
The average price of Canadian crude oil exports was US$65.3 per barrel in 2024, unchanged from 2023 and down from US$81.9 per barrel in 2022. The total value of crude oil exports was US$100.7 billion in 2024, an increase of 5.7% from the previous year.
For more information on the crude oil trade in Canada, please visit the Crude Oil Export Summary.
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