The Globe and Mail reports in its Friday, Jan. 30, edition that the share of Canada's crude petroleum flowing to countries other than the United States hit an all-time high in November, beating the previous month's record.
The Globe's Jason Kirby writes in the Decoder column that Canada shipped 14.1 per cent of its crude to the rest of the world in November, with China alone accounting for 10 per cent of Canada's total oil exports that month.
By comparison, non-U.S. exports averaged just 3 per cent in 2023. In May, 2024, the newly expanded Trans Mountain fuelled export growth to Asia and other markets.
Ottawa has stepped up its push to find non-U.S. markets for Canadian crude. This week, Energy Minister Tim Hodgson said it was a "strategic blunder" that most Canadian energy exports flow to the U.S., adding that "the fastest-growing demand for energy in the world will be in India."
The problem for Canada's oil diversification effort is that growing demand from other markets is not filling the gap left by declining shipments to the U.S. From January to November, 2025, total oil exports to the U.S. fell by $13.3-billion, while during the same period demand from non-U.S. countries grew by $7.2-billion.
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