US-Canada Energy Trade Falls to $137 Billion as Oil Prices Slide

According to the US Energy Information Administration (EIA), US-Canada energy trade declined 11% in 2025 to an estimated $137 billion as lower oil prices and reduced crude oil volumes weighed on overall trade value. Canada remained the dominant energy supplier to the United States, accounting for $111 billion of US energy imports, while U.S. energy exports to Canada totaled $26 billion.

Crude oil continued to drive the relationship, representing 69% of total energy trade. The value of crude oil trade fell 16% to $94.7 billion as Brent crude prices averaged $69 per barrel, down from 2024 levels. Despite tariffs on some Canadian energy exports, the US remained Canada’s largest crude oil market due to established pipeline infrastructure and strong demand from US refineries for Canadian heavy crude.

Petroleum product trade remained significant, with volumes slightly increasing but values declining because of lower fuel prices. The EIA data highlights the continued importance of the integrated North American energy market, with Canada supplying critical crude resources and the United States remaining its largest energy customer.