Crude Oil and Petroleum Products

Crude Oil and Petroleum ProductsCanada has abundant resources of crude oil, with an estimated remaining ultimate potential of 53.9 106m³ (339 billion barrels) as of December 2012. Of this, oil sands account for 90 per cent and conventional oil 10 per cent. There are two major producing areas in Canada, the Western Canada Sedimentary Basin, which includes Alberta, Saskatchewan and parts of British Columbia and Manitoba, and offshore eastern Canada. Oil is also produced in modest volumes in Ontario and the Northwest Territories. Although Canada is the sixth largest producer in the world, it produces only about four per cent of total daily production, so it does not have a major influence on the world price of oil. In 2013, 71 per cent of Canadian crude production was exported to the U.S. and two per cent was exported to overseas markets. Road transportation fuel (gasoline and diesel) accounts for approximately half of Canada’s refined petroleum product demand.

The National Energy Board regulates the export of crude oil and petroleum products. Export orders or licences are required to export these commodities from Canada. Holders of export authorizations report monthly on their export activities to the Board.

Statistics

ARCHIVED - Crude Oil and Petroleum Products - Statistics

Analysis and Publications

For more information on crude oil and petroleum products, refer to Canada's Energy Future, Canadian Energy Dynamics and Canadian Energy Overview.

ARCHIVED - Crude Oil and Petroleum Products - Analysis and Publications

Footnote

Footnote 1

The Commodity Tracking System (CTS) is a secure Government of Canada web portal and online system which simplifies the completion of monthly export reporting requirements. The system can also display statistics according to the parameters that a user selects.

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