US imports of Canadian crude surges to record high
The US Energy Information Administration (EIA) reported a huge surge in oil imports from Canada last week, reaching a record high of 3.6 million bbl/day.
Weekly import figures are preliminary, however, and can be quite volatile. Last week's import levels are unlikely to be sustained and would suggest a shift out of inventory volumes.
The US imported about 3.3 million bbl/day from Canada in September, the latest available "final" monthly figures. Canada now accounts for over 40% of all crude oil imports into the US.