US-Canada Energy Trade Value Drops 11% in 2025 Amid Lower Oil Prices

The value of energy trade between the US and Canada decreased by 11% in 2025, according to data from the US Energy Information Administration (EIA). The total value of energy imports and exports between the two countries was estimated at US$137 billion. Most of this trade value comes from US energy imports from Canada, which reached US$111 billion last year.

Crude oil accounts for 69% of the total value traded in 2025. Brent crude oil prices averaged US$69/bbl in 2025, which is US$11/bbl lower than in 2024. Lower crude oil prices and trade volumes led to a 16% decrease in the value of crude oil trade between the two countries.

Canada remains the primary source of US crude oil imports, with an average of 3.9 million bpd imported in 2025. This is partly due to increased utilization of the Trans Mountain Expansion (TMX) pipeline, which brings Canadian crude oil to the Pacific Coast for export to foreign markets.

Petroleum products trade between the US and Canada also decreased by value in 2025, driven by lower fuel prices. The US imported 583,000 bpd of petroleum products from Canada in 2025, a 2% decrease.