EIA Highlights Significant Role of Canada’s Crude Oil in U.S. Refineries

SEATTLE (Oil Monster):  The U.S. Energy Information Administration (EIA), in its latest report, highlighted the significant role played by Canadian crude oil in U.S. refineries. The imports from Canada make up most of the U.S. imports, it noted.

According to EIA, the exports to the U.S. has witnessed increase, corresponding to the increase in crude oil production by Canada. The share of Canadian oil in U.S. imports has risen sharply from 33% in 2013 to 60% in 2023. This indicates that the U.S. imports from Canada have surged higher by an average of 4% in every year during this period. The Canadian crude exports accounted for 24% of U.S. refinery throughput in 2023, significantly higher from 17% recorded in 2013.

The close proximity of Canadian oil pipelines has helped in boosted transportation of crude oil from western Canadian provinces, especially from regions in Alberta, to refineries in the U.S. It must be noted that inland regions, particularly the Midwest and Rocky Mountains are well connected through pipelines and rails to Canadian oil markets.

The pipeline capacity too has increased significantly during recent years. The Trans Mountain Expansion Project (TMX), which became operational in May this year, has nearly tripled the pipeline capacity to Canada’s Pacific Coast.