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Imported oil is more costly
- Generally, imported oil is more costly than Canadian crude oil transported by pipeline. The total cost of all imported crude oil was $11.5 billion in 2020, a drop of 40% from 2019 when the cost was $18.9 billion 2.
www.cer-rec.gc.ca/en/data-analysis/energy-markets/market-snapshots/2021/market-snapshot-crude-oil-imports-decreased-in-2020-and-so-did-the-cost.htmlCER – Market Snapshot: Crude oil imports decreased in 2020 ...
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Apr 14, 2021 · Generally, imported oil is more costly than Canadian crude oil transported by pipeline. The total cost of all imported crude oil was $11.5 billion in 2020, a drop of 40% from 2019 when the cost was $18.9 billion 2.
Jun 12, 2024 · The total cost of imported crude oil was $19.5 billion in 2023, 9% lower than 2022. This decrease is primarily because global crude oil prices gradually declined throughout late 2022 and up to mid-2023, after Russia’s invasion of Ukraine elevated oil prices for most of 2022.
Aug 16, 2023 · In 2022, Canada imported 9,000 b/d more crude oil from Saudi Arabia than the year before. Canada imported 50% less oil from Nigeria relative to the prior year and did not import oil from Azerbaijan in 2022, reflecting drops of 31,000 b/d and 11,000 b/d, respectively.
Dec 13, 2018 · Although shipping Canadian crude to Canadian refineries on the East Coast sounds like a no-brainer, logistically, it can be very expensive and impractical. Refineries located on the Atlantic have access to seaborne crude, which is typically priced closer to Brent.
Jun 8, 2022 · Why high oil prices aren't creating an economic boom in Canada. Typically that discount is about $10-$15 US a barrel, but recent events have pushed the gap to beyond $20. That's the...
Apr 14, 2021 · Canada continues to export a lot more oil than it imports — 6.5 times more — with the vast majority of the 3.7 million barrels per day exported in 2020 destined for the United States....
Oct 14, 2022 · A barrel of the North American oil benchmark is changing hands for about $90 US a barrel right now, but the heavy crude that comes from Canada's oilsands is fetching $30 less because of a...
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