North America's Integrated Oil Industry: A Rare Combination of Scale and Stability

The oil industries of Canada and the United States are often seen as competitors, but in reality, they have developed into a deeply integrated continental system.

The US is the world's leading crude oil producer, while Canada ranks among the top four and possesses one of the largest proven oil reserves.

Canada's production is dominated by heavier crude from the oil sands, which are well-suited to American refineries that were designed specifically to process this type of heavy crude.

In 2024, the US imported approximately 4.1 million barrels per day of Canadian crude, making Canada its largest foreign supplier.