Canada’s overseas oil exports surge as production hits new record

Canada’s overseas oil exports surged by 45% in July 2026, marking a significant shift in the country’s energy trade dynamics. According to Statistics Canada, exports to Asian and European markets reached 569,000 barrels per day (b/d), driven largely by shipments through Vancouver. Despite this growth, the United States remains the dominant buyer, accounting for 87% of Canada’s exported crude.

This expansion in overseas sales coincides with record-high oil production in Canada. The country averaged 5.65 million b/d in July, a 2.7% increase from the previous year, with synthetic crude from the oil sands setting a new monthly record at 1.44 million b/d. The data challenges claims by Alberta Premier Danielle Smith that Ottawa has been stifling the province’s oil industry. In fact, the opposite appears to be true, as production and market access have both grown significantly under federal policies.

Domestically, petroleum consumption has declined, with finished petroleum products dropping by 3.9%. Gasoline use fell by 1.5%, while distillate fuels and jet fuel saw larger decreases. This trend reflects a broader slowdown in consumption since its 2019 peak, despite some recovery in recent years.

Polling suggests that Albertans are shifting their perspective on federal policies. A September 2026 survey found that 49% of Albertans approve of the Carney government’s handling of major projects, while 73% view rapid infrastructure development as a matter of Canadian sovereignty. The sentiment has evolved from opposition to Ottawa’s alleged interference to impatience for faster project approvals.