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Jun 8, 2022 · The benchmark North American oil price, a crude blend known as West Texas Intermediate or WTI, was changing hands for $119 US a barrel on Tuesday — within striking distance of the multi-year...
Aug 14, 2023 · U.S. crude oil imports from Canada in 2022 averaged 3.7 million barrels per day (b/d) by volume—nearly unchanged from 2021. The value of U.S. imports of crude oil from Canada increased 38% in 2022 to $113 billion.
USD/CAD and the oil price have a positive correlation. (The y-axis to USD/CAD is reversed.) When oil prices rise, the Canadian dollar . CAD peaked out and reversed before oil prices did in 2008 and 2014. Canada is one of the world's largest exporters of commodities, including crude oil.
Mar 11, 2024 · By comparison, the next three largest producing countries—Canada, Iraq, and China—combined produced 13.1 million b/d in 2023, only slightly more than what was produced in the United States alone. Data source: U.S. Energy Information Administration, International Energy Statistics
Jun 3, 2024 · The value of U.S. imports of crude oil from Canada decreased 18% in 2023 to $93 billion because of the drop in the average price of crude oil. The Brent crude oil price fell to $82/b in 2023 from $101/b in 2022.
Mar 7, 2024 · Although more costly to process, heavier crude oil remained the preferred input for many large refineries in the southern United States. Canadian exports of crude oil and equivalent products also reached a record high in 2023. Steadily rising since 2021, crude oil exports totalled 230.0 million cubic metres, up 3.2% from 2022.
Apr 9, 2024 · Oil prices have climbed in recent weeks, spurred by concerns over supplies and geopolitical risks, including wars in Ukraine and the Middle East. Analysts say the momentum could carry prices...
