Canada exports 10 times more oil to the United States than the United States exports to Canada, but that balance is shrinking because of the recent oil boom south of the border.
The United States imported about 2.7 million barrels of Canadian oil per day in April 2014. While Canada imported about 263,000 barrels of U.S. crude.
While the differences remain great, U.S. northbound exports for April doubled in a year and grew six-and-a-half times over their level two years earlier. It’s the most oil the United States has exported to Canada since 1993.
The National Post reports the country’s oil producers are lagging behind the United States in selling oil to domestic customers, even those in oil-rich Alberta.
Alberta’s energy companies are struggling to find new customers because the province has more oil than it now can sell. Canadian customers who might otherwise opt for domestic oil are instead relying on lighter U.S. crude.