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Oil Supply and Demand

Canadian Oil Supply and Demand* (2014)
Canadian production 3.8 mb/d**
Exports 2.9 mb/d**
Canadian oil sent to domestic refineries 1.2 mb/d**
Imports by domestic refineries *** 0.7 mb/d**

*includes condensates and pentanes plus
** millions of barrels per day
*** Includes both imports to refineries (0.5 mb/d) and those
delivered to fields for use as diluent (0.2 mb/d)

 

Canadian Oil Production

Canada is the fifth-largest crude oil producer in the world

In 2014, Canada produced 3.8 mb/d of crude oil. Of this, 2.2 mb/d was produced from the oil sands and the remaining 1.6 mb/d was conventional, offshore, and tight oil production. Globally, only the United States, Saudi Arabia, Russia and China have higher oil production.

World Oil Production (2014)*
Rank Country Percentage of Total
1 United States 14%
2 Saudi Arabia 13%
3 Russian Federation 12%
4 People’s Republic of China 5%
5 Canada 5%
6 United Arab Emirates 4%
7 Islamic Republic of Iran 4%
8 Iraq 4%
9 Kuwait 4%
10 Brazil 3%

Source: International Energy Agency *Includes crude oil, natural gas liquids (NGLs), additives, and other hydrocarbons
(including the receipts of additives).

The majority of Canada’s oil is produced in three provinces

Alberta, Saskatchewan, and Newfoundland and Labrador account for over 96% of oil production in Canada.

Source: Statistics Canada “Other”: Nova Scotia, Ontario, and the Northwest Territories
Includes crude oil, condensates and pentanes plus

 

Trade

Canada produces more oil than it can consume. As a result, Canada is a significant net exporter of crude oil.

In 2014, Canada exported 2.85 million barrels per day of crude oil. Of this, 97% went to the United States and the remaining 3% went to Europe and Asia.

Due to the regional nature of Canadian refining markets, Canada also imports some crude oil.

Canadian crude oil imports come from a range of countries, including the U.S. (54%), Saudi Arabia (11%), Iraq (8%), and Norway (5%).

 

Top 10 Source Countries for
Canadian Crude Oil Imports (2014)*
Rank Country Thousand barrels per day Percentage of Total Imports
1 United States 340.8 53.6%
2 Saudi Arabia 71.3 11.2%
3 Iraq 48.3 7.6%
4 Norway 33.9 5.3%
5 Algeria 33.8 5.3%
6 Angola 31.4 4.9%
7 Mexico 20.5 3.2%
8 Azerbaijan 10.7 1.7%
9 Nigeria 10.4 1.6%
10 Ivory Coast 7.1 1.1%
NA Other 27.6 4.4%
                                            Total 635.8 100.0%

Source: Statistics Canada, Trade Retrieval and Aggregation System (TRAGS)
*Based on Canadian imports of Harmonized System Code 2709, Petroleum Oils
and Oils From Bituminous Minerals, Crude.

Learn more about Canadian crude oil trade in NRCan’s Energy Market Fact Book 2015-2016.

 

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