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Canada becomes the biggest consumer of US oil since the ban was lifted

The country has bought more than a half of all US crude supplies in a year.

18.Aug.16 4:19 PM
By Alesya Davydova


Canada becomes the biggest consumer of US oil since the ban was lifted

American crude oil is gaining popularity with consumers in all corners of the world after the notorious ban was lifted. Calgary Herald, citing Bloomberg news agency, reminds that the restrictions were established in the 1970s.

The ban was cancelled in the end of the last year. Since then the USA has shipped more than 87 million barrels of crude and condensate to 17 countries with its neighbor – Canada – being the biggest consumer. According to Bloomberg calculations from Census Bureau data, Canada has received 53.3 million barrels. In the top-3 consumers of US oil products there also are Curacao, which took 8.68 million, and the Netherlands with 6 million.

Census Bureau data adds that other supply destinations include the U.K, Japan and even the Marshall Islands.

“The data for shipments to the Marshall Islands could have been a mistake, those were probably tankers with the Marshall Islands flag,” said John Auers, executive vice president of Turner Mason & Co., a Dallas-based consulting firm. “It’s possible that those cargoes were headed for Asia.”

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