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Canadian oil exports down marginally for January

Canadian oil exports for January lower year-on-year.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   March 26, 2014 at 9:40 AM
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Canada exported about 2 percent fewer barrels of oil per day in January than it did at the same time last year, the National Energy Board reported.

NEB published data on total crude oil exports for January, the last full month for which export data are available. Overall, it said Canada exported around 2.7 million barrels per day for January 2014, about 2.3 percent less than the same time last year.

The bulk of Canadian oil deposits are in Alberta province in the form of the heavier grade of oil sands, or bitumen. In January 2014, Canada exported 1.8 million barrels of oil sands per day, about 1 percent more year-on-year, NEB reported Tuesday.

NEB didn't break down exports by destination in its Tuesday data set. Nearly all of Canada's oil exports are designated for the U.S. market, though Canadian Prime Minister Stephen Harper has tried to woo Asian and European energy consumers.

Canada's heavier grade of crude oil is viewed as an environmental threat. When spilled, it tends to linger in the environment longer than other grades.

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