Canada Sets Record with Oil Exports to Non-U.S. Markets
Canada has achieved a significant milestone in its oil export strategy. In November, the share of Canadian crude oil sent to non-U.S. markets reached an all-time high.
Record Non-U.S. Oil Exports
As of November 2024, 14.1 percent of Canada’s crude oil was exported to countries outside the United States. This marked a notable increase from the previous month, indicating that efforts to diversify trade are taking effect.
Key Statistics
- Non-U.S. Share of Crude Exports: 14.1% in November 2024
- Exports to China: 10% of Canada’s total oil exports in November
- Average Non-U.S. Exports in 2023: 3%
In May 2024, the expanded Trans Mountain pipeline facilitated its inaugural shipment of oil from Alberta to the West Coast. This expansion has been pivotal in boosting exports to Asia and other regions.
Government’s Strategic Push
The Canadian federal government, led by Energy Minister Tim Hodgson, is actively pursuing new markets for Canadian crude. Hodgson criticized the historical reliance on U.S. oil exports, labeling it a “strategic blunder.” He emphasized that the fastest-growing energy demand is shifting toward markets like India.
Challenges in Diversification
Despite the increase in non-U.S. exports, overall gains are insufficient to offset declining demand from the United States. Between January and November 2025, oil exports to the U.S. decreased by $13.3 billion. In contrast, demand from non-U.S. countries rose by $7.2 billion during the same timeframe.
Although Canada has not directly exported crude oil to India since mid-2024, prior shipments were infrequent. Instead, bituminous coal constituted the majority of energy exports to India before that date. The challenge remains for Canada to strengthen its position in the global oil market while overcoming reliance on traditional partners.
