The U.S. Energy Information Administration (EIA) reported that U.S. imports from Canada reached record levels in 2015, Canadian newspaper The Globe and Mail reported.
While imported oil has generally been on the decline since peaking in the mid-2000s, imports from Canada hit a record 3.2 million barrels a day of gross exports to the U.S. last year, according to The Globe and Mail.
That marked a 10% increase from a year earlier, and a 43% share of total U.S. imports, the EIA said.
”Canada generally produces heavy, sour crude oil that is well matched to processing capacity in the United States, where many refineries have the equipment needed to process such oil,” the EIA said, according to the report.
”Canada has few alternative outlets for the heavy crude produced in Alberta, where most of Canada`s proved oil reserves are located,” it added.
”Canada is expected to continue to provide a large share of U.S. oil imports for the foreseeable future, especially given the expansion of pipeline and rail shipping capacities to transport Canadian oil,” the report reads.
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