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1. • • Canada produces more oil than it can consume. As a result, Canada is a significant net exporter of crude oil. In 2014, Canada exported 2.85 million barrels per day of crude oil. Of this, 97% went to the United States and the remaining 3% went to Europe and Asia.
     natural-resources.canada.ca/our-natural-resources/energy-sources-distribution/fossil-fuels/crude-oil/oil-supply-demand/18086

     Oil Supply and Demand - Canada

2. People also ask

   Why is crude oil a top export product in Canada?

   • Crude oil rises to become Canada’s top exported product. Canadian crude oil export values rose significantly over the past 30 years. While export volumes increased steadily over time, volatility in export prices has generally driven the trends observed in the value of these exports.

   CER | Canadian Crude Oil Exports: A 30 Year Review

   www.cer-rec.gc.ca/en/data-analysis/energy-commodities/crude-oil-petroleum-products/report/canadian-crude-oil-exports-30-year-review/index.html

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   How have Canadian crude oil exports changed over 30 years?

   • 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. 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.

   CER | Canadian Crude Oil Exports: A 30 Year Review

   www.cer-rec.gc.ca/en/data-analysis/energy-commodities/crude-oil-petroleum-products/report/canadian-crude-oil-exports-30-year-review/index.html

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   What happened to Canada's crude oil exports in 2020?

   • Exports of crude oil accounted for 9.6% of total export values in 2020, down from 14.1% a year earlier, but remained Canada’s top exported product for the year. Meanwhile, the decline in crude oil export values contributed to an increase in Canada’s merchandise trade deficit, which more than doubled to reach $37.5 billion in 2020.

   CER | Canadian Crude Oil Exports: A 30 Year Review

   www.cer-rec.gc.ca/en/data-analysis/energy-commodities/crude-oil-petroleum-products/report/canadian-crude-oil-exports-30-year-review/index.html

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   How much oil does Canada export?

   • In 1990, exports of crude oil were valued at $5.5 billion, representing 3.6% of total Canadian exports. Canada’s top exported product at that time was passenger cars and light trucks ($21.8 billion, or 14.3% of total exports). In 2008, crude oil surpassed passenger cars and light trucks to become Canada’s top exported product.

   CER | Canadian Crude Oil Exports: A 30 Year Review

   www.cer-rec.gc.ca/en/data-analysis/energy-commodities/crude-oil-petroleum-products/report/canadian-crude-oil-exports-30-year-review/index.html

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3. www.cer-rec.gc.ca › en › data-analysisCER – Canadian Crude Oil Exports: A 30 Year Review

   www.cer-rec.gc.ca › en › data-analysis

   • Cached

   Exports of crude oil accounted for 9.6% of total export values in 2020, down from 14.1% a year earlier, but remained Canada’s top exported product for the year. Meanwhile, the decline in crude oil export values contributed to an increase in Canada’s merchandise trade deficit, which more than doubled to reach $37.5 billion in 2020.

4. www.worldstopexports.com › canadas-top-exportsCanada’s Top 10 Exports - World's Top Exports

   www.worldstopexports.com › canadas-top-exports

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   The Dominion of Canada’s 5 most-valuable export products by value in 2023 were crude oil, cars, gold, refined petroleum oils, then petroleum gases. In aggregate, those major exports represent roughly one-third (32.8%) of the Canada’s overall export sales.

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6. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Canada’s crude oil exports kept pace with ...

   www.cer-rec.gc.ca › en › data-analysis

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   Jul 28, 2021 · Since 2010, exports from Canada have increased to the U.S. Midwest (PADD 2) and Gulf Coast (PADD 3) regions. 2 PADD 2 is currently the largest market for Canada’s crude oil, taking 58% of exports in 2020.

7. www.cer-rec.gc.ca › en › data-analysisMarket Snapshot: Crude Oil – One of Canada’s top exports is ...

   www.cer-rec.gc.ca › en › data-analysis

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   Jun 12, 2019 · Crude oil is one of Canada’s top five highest valued exports. 1, 2 Between 2013 and 2018, the value of crude oil exports ranged from 11% to 20% of Canada’s total exported goods. Despite western Canada experiencing lower oil prices in 2018, the value of exported crude oil was $86.7 billion, or 16% of Canada’s $538.1 billion in exported goods. 3.

8. www150.statcan.gc.ca › n1 › pubThe oil and gas sector in Canada: A year after the start of ...

   www150.statcan.gc.ca › n1 › pub

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   • 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.

9. open.canada.ca › data › enCanadian Crude Oil Exports: A 30 Year Review - Open ...

   open.canada.ca › data › en

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   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 of trade, crude oil production, and industry investment.

10. www150.statcan.gc.ca › n1 › daily-quotidienStudy: Canadian Crude Oil Exports: A 30-Year Review

    www150.statcan.gc.ca › n1 › daily-quotidien

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    Jun 14, 2021 · Canadian crude oil production has evolved considerably over the last 30 years, with volumes nearly tripling over that timeframe. 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.