Value Of U.S-Canada Energy Trade Dips In 2020

The pandemic-driven lower petroleum consumption and lower commodity prices resulted in a decline of over 30 percent in the value of energy trade between the United States and Canada in 2020, the U.S. Energy Information Administration (EIA) said on Thursday. Canada is the single largest source of U.S.

crude oil imports, accounting for over 60 percent of all U.S. crude imports last year, per EIA estimates. According to data from the U.S. Census Bureau, the value of U.S. energy imports from Canada totaled $58 billion, down by 31 percent on the year.…