Canadian Oil Exports To U.S. At Record Level

Canadian oil producers are exporting crude to the U.S. at record rates, Reuters has reported, adding that demand for the heavy, sour crude that Canada is producing is surging. What’s more, a growing amount of this crude is not staying at Gulf Coast refineries but is being exported to international markets.

Kpler data cited by Reuters shows that the rate of Canadian heavy crude exports from the Gulf Coast topped 180,000 bpd last year, up from about 70,000 bpd in 2019 and 2020. In December, export rates from the Gulf Coast reached 300,000 bpd.…