On March 20th, earlier this year, in order to complete exports before US President Trump threatened to impose tariffs, a large amount of Canadian crude oil flooded into the United States, causing a sharp drop in local inventories. Nowadays, the scale of oil imports from Canada by the United States is significantly declining. Preliminary data from the US Energy Information Administration shows that the volume of crude oil imported by the United States from Canada fell to 3.13 million barrels per day last week, the lowest level since March 2023. Meanwhile, Enbridge Inc. stated that there is no need to allocate space on Canada’s largest oil export pipeline network next month, indicating that exports of crude oil to the United States may continue to remain low.
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