Canada has the third largest oil reserves in the world and is the world's fourth largest oil producer and fourth largest oil exporter. In 2019 it produced an average of 750,000 cubic metres per day (4.7 Mbbl/d) of crude oil and equivalent.

Aug 21, 2024 · The United States (U.S.) remains the primary destination for Canadian crude oil, receiving approximately 97% of Canada’s crude oil exports in 2023. The remaining 3% was exported to non-U.S. destinations including the Netherlands, United Kingdom, Germany, Spain, France, Norway, Italy, and Hong Kong (Figure 1).

Over those 30 years, the value of crude oil exports has increased more than fifteen-fold, accounting for 14.1% of Canada’s total exports in 2019. The Canada Energy Regulator (CER) and Statistics Canada have combined expertise to put together a 30-year look back at the evolution of Canadian crude oil exports.

Aug 1, 2024 · Canada’s crude oil exports to the United States amounted to 24% of U.S. refinery throughput in 2023, an increase from 17% in 2013. Crude oil production averaged 4.6 million b/d in Canada during 2023, nearly three times the country’s 1.7 million-b/d refinery capacity.

Dec 20, 2024 · Get key facts about Canada’s crude oil sector, including oil production, reserves, trade, regulation, and technology and innovation. Oil Pricing. Find the latest crude oil prices for selected North American crude oils. Oil Resources. Learn about Canada’s oil resources, including its proven oil reserves. Oil Supply and Demand.

Oct 12, 2023 · In 2024, Canada could be the largest source of growth in global crude oil production. The country's expected jump in oil output of about 500,000 bpd is higher than the 400,000 bpd projected...

Crude oil—also known as petroleum—is an energy-rich liquid consisting mainly of hydrocarbons. In Canada, Alberta's oil sands contain the largest reserves of crude oil, but there are also large deposits off the coast of Atlantic Canada.

Crude Oil. Canada produced 5.1 million barrels per day (MMb/d) of crude oil in 2023, an increase of 1.9% from 2022 (Figure 1). Canada was ranked as the fourth largest oil producer in the world in 2023. Footnote 1 Since 2013, Canada’s crude oil production has increased by 41%.

Mar 31, 2020 · Canada is a major supplier of secure, reliable crude oil to international markets, producing 4.6 million barrels per day (mb/d) of crude oil in 2018. Canada also holds one of the world’s largest oil reserves in the world, surpassed only by Saudi Arabia and Venezuela.

Globally, Canada is a leader in oil and gas production, being the fourth largest producer of crude oil, and fifth largest producer of natural gas. 97% of Canada's proven oil reserves are located in the oil sands.