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Canadian Crude Oil Exports: A 30 Year Review. Between 1990 and 2019, the total value of Canada’s merchandise exports has nearly quadrupled, rising from $151.8 billion to $598.2 billion. Over those 30 years, the value of crude oil exports has increased more than fifteen-fold, accounting for 14.1% of Canada’s total exports in 2019.
- Crude oil price. The price of crude oil is the most important factor that drives production and investment in the oil and gas extraction sector. Chart 1 presents movements in two of the most relevant crude oil prices for Canada, the WTI and the Western Canadian Select (WCS) from January 2019 to February 2021.
- Production and employment. Chart 2 presents monthly production and employment in the oil and gas extraction industry and in all industries as a whole from January 2019 to April 2021.
- Crude oil and merchandise exports. The global value chain and, therefore, merchandise exports have been greatly affected by the pandemic because of declining demand.
- Capital expenditures. Capital expenditures in oil and gas extraction are highly related to crude oil price. Lower oil prices will drive down the profit level of oil and gas extraction and ultimately discourage investment in the industry, and this will affect its production capacity in the long term.
Nov 7, 2023 · Exports of crude oil and bitumen millions of current dollars; September 2020: 4,316: October 2020: 4,497: November 2020: 4,907: December 2020: 5,650: January 2021
Source: CER’s Commodity Tracking System: Crude Oil Exports – Summary by Destination (monthly report) 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.
Jul 28, 2021 · Since 2015, the volume of crude oil exported from Canada has been about 80% of yearly production. 1 From 2015 to 2020, Canada’s crude oil production increased by 16%, or 0.61 million barrels per day (MMb/d), and exports increased by 21% or 0.63 MMb/d. Since 2010, the proportion of exports to production has also increased.
The Canada Energy Regulator (CER) and Statistics Canada have combined expertise to put together a 30-year look back at the evolution of Canadian crude oil exports. This retrospective highlights some of the factors that influenced the trends in Canadian crude oil exports, coupled with other key indicators, including impacts on Canadian balance ...
The value of crude oil exports has increased more than fifteen-fold since 1990, accounting for 14.1% of Canada's total exports in 2019. Canada's crude oil export volumes increased at an annual average rate of 6.2% over that time. Largely as a result of the COVID-19 pandemic, 2020 was a year without precedent. The value of crude oil
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