While overall U.S. crude oil imports decline, the U.S. continues to increase imports of Canadian crude oil
The total amount of crude oil imported into the U.S. has steadily declined since a peak in 2005 when imports averaged 10.1 MMBOPD, but trade of Canadian crude into the U.S. continues to grow. Canadian crude oil accounted for 43% of gross crude oil imports in 2015, according to the EIA, the highest level on record.
U.S. gross crude oil imports from all sources averaged 7.4 MMBOPD in 2015, down 27% since 2005. As overall imports decline, the share of remaining imports being sourced from four top supplies: Canada, Saudi Arabia, Venezuela and Mexico, continues to grow.
Canada exported a record-high 3.2 MMBOPD of gross crude oil exports to the U.S. in 2015, up 10% from the year before, accounting for just slightly more than four out of every ten barrels of crude oil imported into the United States. Canadian crude production is typically heavy and sour, which is well suited for the refining complex in the United States. With few other options for international export, the U.S. remains an important trade partner for Canadian oil and gas producers.
Canada also receives nearly all of U.S. crude oil exports, making up 422 MBOPD, or 92%, of the 458 MBOPD of crude oil exported from the U.S. in 2015. With the end of the crude oil export ban, that number may change in the near future.
