The value of energy trade between the United States and Canada fell 11% in 2025 to an estimated $137 billion, the US Energy Information Administration said, citing US Census Bureau data. Energy trade value tracks the combined worth of imports and exports between the two countries, and it moves with commodity prices and volumes in global energy markets.
Most of that trade runs one way. The US imported $111 billion in energy from Canada in 2025, against $26 billion in US energy exports north. Crude oil made up 69% of the total value traded.
| Category | 2025 value | Change vs. 2024 |
|---|---|---|
| Total US-Canada energy trade | $137 billion | -11% |
| Crude oil trade | $94.7 billion | -16% |
| US petroleum imports from Canada | $16 billion | -15% |
| US petroleum exports to Canada | $13.4 billion | -12% |
A tariff, then an exemption for energy
Canada's energy exports to the US have carried a 10% tariff since March 6, 2025, though some crude oil volumes can qualify for an exemption under the United States-Mexico-Canada Agreement, the trade pact linking the US, Mexico and Canada. More recent tariff actions announced by the White House exempt energy trade entirely. Even with the tariff in place for much of the year, the US remained the top export market for Canadian crude oil, helped by the pipeline network already connecting the two countries. Relatively complex US refineries also tend to prefer heavy crude oils, such as those produced in Canada. Heavy crude is denser than light grades and takes more processing to turn into fuels.
Crude oil trade cooled as prices fell
Brent crude averaged $69 a barrel in 2025, $11 lower than in 2024. That price drop, combined with lower volumes, pulled crude oil trade between the two countries down 16% to $94.7 billion. Canada remained the largest source of US crude oil imports, though those imports averaged 3.9 million barrels a day, down 4% from 2024. Part of that decline traces to Canada's growing use of the Trans Mountain Expansion pipeline, which moves Canadian crude to the Pacific Coast, giving producers a route to US West Coast refiners and, increasingly, to buyers in Asia. US crude oil exports to Canada ran far smaller, averaging 383,000 barrels a day, down 2% from 2024. Those exports are typically low-density, low-sulfur crude shipped by pipeline to eastern Canada.
Refined product volumes rose, values fell
Trade in petroleum products such as gasoline and diesel moved differently. Volume rose about 2% in 2025, even as total value fell about 4% on lower fuel prices, since crude oil cost is the largest single driver of gasoline and diesel prices. The US imported 583,000 barrels a day of petroleum products from Canada, a 2% decrease, worth $16 billion, down 15% from 2024. US petroleum product exports to Canada rose 6% to 504,000 barrels a day, though their value slipped 12% to $13.4 billion as prices fell.
