U.S. Oil Imports from Canada Drop Amid Rising Prices


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. imports of crude oil from Canada fell 4% last 
week, according to Energy Information Administration (EIA) data. The figures 
showed domestic importers sourcing more barrels from South America and Africa 
as the Middle East conflict drives up international demand and pricing for 
Canadian barrels.

   Canadian crude imports into the U.S. slid by 152,000 bpd to 3.677 million 
bpd during the week ended May 29. This decline followed a higher volume of 
3.829 million bpd recorded during the prior week ended May 22.

   While Western Canadian Select (WCS) remains the structural backbone for U.S. 
Midwest refiners, rigid pipeline export capacities have effectively capped 
delivery volumes. This physical bottleneck has severely restricted additional 
barrels from flowing south to meet the broader global supply shortage caused by 
maritime disruptions in the Middle East.

   This supply limitation has aggressively narrowed the WCS discount to 
domestic West Texas Intermediate (WTI) crude. The dramatic pricing shift has 
made inland Canadian barrels relatively costlier, driving U.S. refiners toward 
cheaper, albeit logistically complex, waterborne South American heavy 
alternatives. DTN pricing data shows that from a high of $23.56 bbl on April 7, 
the WCS-WTI discount has narrowed down to $8.53 during the week ended May 29.

   Notwithstanding last week's drop, the latest imports of Canadian crude 
tracked by the EIA were still higher by 4.5% from the 3.519 million bpd that 
arrived in the U.S. a year ago.

   In contrast, U.S. crude oil imports from Venezuela jumped more than 
four-fold from the prior year, rising 153,000 bpd to 568,000 bpd. The volume 
marked the fifth straight week where Venezuelan arrivals stood at or above the 
400,000-bpd threshold, contrasting with the mere 107,000 bpd recorded in the 
same week of 2025.

   Meanwhile, the EIA  reported Middle East crude imports into the U.S. edged 
up on a weekly basis, but remained way below year-over-year volumes. Saudi 
Arabia delivered 283,000 bpd to the U.S. in the week ending May 29, reversing 
the prior week's flat zero line. This volume was still 51% lower than the 
578,000 bpd reported during the corresponding week a year ago.

   Iraqi imports rose to 43,000 bpd in the week profiled, after posting zero 
arrivals during the previous weekly period. On the year, Iraq's exports to the 
U.S. fell significantly short of the 214,000-bpd print seen in 2025.




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