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Crude oil exports account for 10% of Canada's GDP. 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 appreciates. CAD peaked out and reversed before oil prices did in 2008 and 2014.
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 exports to Canada averaged 305,000 b/d by volume in 2022, a slight decline from 2021. By value, U.S crude oil exports increased by 43% in 2022, totaling $11.9 billion. U.S. crude oil exports to Canada are typically low-density and low-sulfur crude oil grades shipped to Eastern Canada.
Jun 3, 2024 · U.S crude oil exports to Canada are small by comparison, averaging 339,000 b/d in 2023, a slight increase from 2022. By value, U.S. crude oil exports to Canada decreased by 15% in 2023, totaling $10 billion.
May 7, 2018 · While the vast majority of energy trade between the United States and Canada is made up of crude oil and refined petroleum products (constituting $80 billion of the $95 billion of energy commodity trade in 2017), the two countries do also trade significant quantities of natural gas, electricity, uranium, coal, and fuel ethanol.
Dec 2, 2021 · The value of U.S. energy imports from Canada fell by 31% in 2020 compared with 2019, and the value of U.S. energy exports to Canada fell 34%, according to data from the U.S. Census Bureau. Crude oil and petroleum products combined accounted for 89% of the value of all U.S. energy imports from Canada in 2020.
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May 16, 2018 · The vast majority of Canadian heavy crude goes to the United States (U.S.) for refining – mostly to the Midwest, although the Gulf Coast is Canada’s fastest growing market. The majority is transported by pipelines.
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