US Imports of Canadian Crude Reach Record High
The Trans Mountain Pipeline expansion is making a significant impact on Canada’s oil trade. The United States Energy Administration reported that crude oil imports from Canada reached an all-time high in July, with Americans purchasing 4.3 million barrels per day. This surge in demand is attributed to the Trans Mountain Expansion, which began commercial operations in May 2024 and tripled the pipeline’s capacity to 900,000 barrels per day. The expansion has enabled larger volumes of crude oil from Alberta to reach Canada’s west coast for export.
The US West Coast received just over half of all maritime crude oil exports from the oil sands from June to September. In July 2024, the US West Coast imported a record high of 498,000 barrels per day, a 115 per cet increase compared to the same month in 2023.