On Thursday, European Union leaders are set to agree to cut their reliance on Russian fossil fuels.
Canada exports more than 4 million barrels a day of oil to the United States and a small portion of that is then re-exported to other countries.
The government is conducting the analysis to ramp up pipeline flows together with industry, Wilkinson said, adding that he expected to “have an answer in terms of what Canada can do” as soon as next week. Most of Canada’s crude exports travel on Enbridge Inc’s Mainline system, with another 590,000 barrels a day flowing on TC Energy’s Keystone pipeline. Neither company immediately responded to requests for comment.
Canadian oil companies exported a record amount of crude out of the U.S. Gulf Coast at the end of 2021, most of which went to big importers India, China and South Korea.
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