Lower crude oil prices reduced U.S.-Canada energy trade value in 2025

Energy trade between the United States and Canada dropped 11% in 2025, to about $137 billion, mostly because oil prices fell rather than because less oil moved across the border. Most of that trade is oil and fuel the U.S. buys from Canada, which totaled $111 billion, versus $26 billion the U.S. sold to Canada. Crude oil makes up the biggest share of this trade.

Crude oil prices averaged $69 a barrel in 2025, down $11 from 2024, and U.S. imports of Canadian crude also dipped slightly, partly because a Canadian pipeline expansion is now sending more of that oil to Asia and the U.S. West Coast instead. Canada remains the top source of crude oil imported into the U.S., since American refineries are built to handle the heavier crude Canada produces, and pipeline connections between the two countries make that trade easy to keep going. A 10% tariff on Canadian energy took effect last year, though some crude oil may be exempt under existing trade rules, and newer tariff moves this year specifically leave energy trade untouched.

Trade in gasoline, diesel, and other refined fuels also lost value in 2025, even though slightly more of it moved by volume, again because fuel prices were lower. None of this points to a supply problem for U.S. drivers or homeowners — it mainly reflects cheaper oil prices working through cross-border trade totals, not any change in how much energy is available.