Looking at the chart, China was buying virtually ZERO oil from Canada... so it's not hard to increase oil purchases by 700% vs. nearly zero.

China is now buying about 7 Million barrels per month from Canada, which is roughly 233,000 bpd. Large oil tankers can hold 2 million barrels of oil, so that's only about 1 full tanker load per week. That's still a lot.

Keep in mind that it's mostly Alberta oil sands crude, which is expensive to transport to the Gulf Coast refineries or to Eastern Canada. It actually makes economic sense for that oil sands crude to go West to China. There were reports from years ago where Canada was building up the dock capacity and pipelines for shipping that oil to China. It was intended beginning at least 4 or 5 years ago.

Overall, it's not a bad thing. The U.S. has other customers for our better quality crude oil.

Looking at the chart, China was buying virtually ZERO oil from Canada... so it's not hard to increase oil purchases by 700% vs. nearly zero.

China is now buying about 7 Million barrels per day from Canada, which is roughly 233,000 bpd. Large oil tankers can hold 2 million barrels of oil, so that's only about 1 full tanker load per week. That's still a lot.

Keep in mind that it's mostly Alberta oil sands crude, which is expensive to transport to the Gulf Coast refineries or to Eastern Canada. It actually makes economic sense for that oil sands crude to go West to China. There were reports from years ago where Canada was building up the dock capacity and pipelines for shipping that oil to China. It was intended beginning at least 4 or 5 years ago.

Overall, it's not a bad thing. The U.S. has other customers for our better quality crude oil.