CANADA DATA: Crude exports to US at 4-mth high on 2.1% gain in May

Quantum Commodity Intelligence - Canada's exports of crude oil to the US grew 2.1% to a 4-month high of 3.52 million barrels per day (bpd) in May, with most of the increase seen for flows to the PADD I East Coast and PADD V West Coast regions, according to government data released late Thursday.

A total of 344,951 bpd was sent to the US West Coast, up 28% on the month, while 181,519 bpd went to the East Coast, up 43%.

The Mid-West is the single largest importing region from Canada, but it took 4% less on the month at 2.06 million bpd.

Although exports to the US were up 9.5% from a year-ago, they were still down 4.9% from two years ago in May 2019 before the Covid pandemic struck.

The total for Canada's exports over the month was not available since the amount sent to destinations other than the US was made confidential.

The proportion of oil sent to other destinations has trended higher since the start of the pandemic, but remains relatively small with just 5.6% of the total in April, or 205,769 bpd.

Meanwhile, exports of gasoline to all destinations fell 6.9% on the month to 164,245 bpd, also down 4.3% from the May 2019 level.

Middle distillate exports were 136,580 bpd, down 13.1% on the month and 1.2% from 2019, while heavy fuel oil was 17,831 bpd, down 53.6% on the month and 66% from 2019.