U.S. Crude Meets Most Of Canada’s Oil Demand

More than half of Canada’s crude and condensate demand is being met by the United States, despite the fact that Canada pumps two and half times more oil than its domestic demand, IHS Markit said in a report on Wednesday. Around 55 percent of the demand for crude and condensate in Canada in 2019, the last ‘normal’ year for demand, was met by imports from the U.

S. or by Canada-produced oil routed through the United States and then back into Canada, that is, by re-exports. U.S. imports of 600,000 bpd plus another 480,000 bpd of re-exports…