For decades, the United States has been Canada’s most important energy partner, absorbing the lion’s share of its oil and gas production. After meeting its domestic refining needs, Canada exports ~80% of its crude output, with roughly 90% going to the U.S. thanks to integrated oil infrastructure built over more than 70 years. In 2024, Canada exported crude oil, NGLs and natural gas worth $160 billion, with Canadian oil accounting for more than 60% of U.S. crude imports. In 2025, Canada exported a record 4.3 million bpd of crude, with…

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