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  1. Aug 21, 2024 · Crude oil exports continued to grow in 2023, reaching a record high of 4 million barrels per (MMb/d), an increase of 3% from 2022. This growth was supported by record high Canadian oil production in 2023.

    • Context
    • Energy Products Posted The Largest Increase in Exports in 2022
    • Imports of Consumer Goods Peaked, Driven Largely by Higher Prices
    • Contact Information

    The year 2021 was defined by strong economic recovery, including international trade, following a slowdown in the activity of several industries in Canada and elsewhere in 2020 during the first waves of the COVID-19 pandemic. Exports of goods increased 21.8% in 2021, stimulated among other things by the strong recovery in economic activity in the U...

    Total exports rose 22.5% in 2022, which represented an increase of more than $142 billion. More than half of this increase ($76.9 billion) was driven by the surge in exports of energy products. Excluding energy products, Canada's merchandise exports rose 13.2% in 2022. Therefore, the share of energy products as a proportion of total exports increas...

    Canadian merchandise imports rose 19.9% in 2022 to $757.4 billion, with all product sections posting increases. Of the 11 product sections, 6 posted gains of more than $10 billion and accounted for more than 80% of the total increase. Of these increases, imports of consumer goods were up the most. Like exports, imports were severely affected by ris...

    For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).

    • Canadian Oil Production. In the last 30 years, Canadian crude oil production grew at a sustained pace, first led by conventional oil, and for the last 15 years by oil sands.
    • Crude Oil Export Volumes. Canadian exports increased more than fivefold over the past 30 years. Figure 2. Annual Canadian Crude Oil Exports by Type. Source and Description.
    • Evolution of World Oil Prices. Canadian oil export values impacted by volatile world oil prices. Figure 3. Significant Oil Market Events. Source and Description.
    • Crude Oil Export Values. Crude oil rises to become Canada’s top exported product. Canadian crude oil export values rose significantly over the past 30 years.
  2. Sep 27, 2023 · According to the Raw materials price index, the price of crude oil and bitumen in 2022 increased by 49.0% from 2021, while the price of natural gas increased by 25.6%. Total production for crude oil rose by 2.3% in 2022, while total natural gas production increased by 7.3%.

  3. Jan 27, 2022 · The study assumes a West Texas Intermediate (WTI) crude oil price of $69.00 per barrel, a Western Canada Select (WCS) oil price of $43.00 per barrel, and a natural gas price of $4.20 per MMBtu for 2022.

  4. Figure Description: This figure shows yearly crude oil exports over a 12-month period from Canada to five U.S. Petroleum Administration for Defense Districts. The data is available in the Excel file at the top of this page.

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  6. Between 2010 and 2020, crude oil exports by pipeline grew from over 1.7 mb/d to over 3.2 mb/d, an increase of over 1.4 mb/d or 84 percent (see Figure 3) (CER, 2021). Canadian export pipeline expansion projects positioned to meet the needs of target U.S. and ofshore international markets.