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Canadian Imports Of US Crude Fall For First Time In 6 Years

Oil

Canada’s imports of US oil in 2016 dropped by 110K b/d y-o-y to average 363K b/d, the first time that Canada’s oil imports from the US have dropped since 2010, Argus reports, citing data from the country’s National Energy Board. The US lifting a ban on crude oil exports in December 2015 (which Canada was already exempt from) and a narrowing discount of WTI to Brent, which helped to make crudes from outside the Americas more attractive,  were noted as factors in the decline.