Canada's February crude exports down 9.5% on year

London (Quantum Commodity Intelligence) – Exports of crude oil from Canada fell 9.5% on the year to 3.72 million barrels per day (bbd) in the month of February, according to data released Thursday by the Canadian Energy Regulator.

The US took 3.44 million bbd with the remainder heading to other destinations.

The balance sent to other destinations was more than double the 127,138 bbd in February last year, with refining demand in the US still depressed due to the pandemic.

A total of 3.68 million bbd was sent the country's southern neighbour in January, which was itself down from 3.89 million bpd sent in the same month in 2020.

Canada is the world's fourth-largest exporter of crude oil and its fifth-largest producer.