Re-exports of Canadian heavy crude oil are estimated to have been an 11-month low of 81 Mb/d in November 2025 (rightmost column in chart below), a decrease of 65 Mb/d from October, and 3 Mb/d less than a year ago based on tanker tracking data compiled by Bloomberg. Since the departure last year of China (red columns) from the Gulf Coast in favor of Canada’s west coast as a buyer of Canadian crude, two nations have remained prominent in purchasing Canadian barrels from the Gulf Coast: India and Spain. India (gray columns) is estimated to have purchased 81 Mb/d, 18 Mb/d greater than October and 14 Mb/d more than a year ago. Spain (blue columns) was absent in November, the first zero reading since May, a decline of 83 Mb/d from October, and unchanged from a year ago (also zero).
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- Analyst Insight
October Upswing — Gulf Coast Re-Exports of Canadian Heavy Crude Oil Stage a Recovery
Re-exports of Canadian heavy oil from the Gulf Coast pushed higher in October led by more purchases by India and Spain.
- Analyst Insight
December Rebound — Gulf Coast Re-Exports of Canadian Heavy Crude Oil Spread Holiday Cheer
Re-exports of Canadian heavy crude oil from the U.S. Gulf Coast bounced higher in December with Spain and India remaining the primary buyers.
- Analyst Insight
September Slowdown - Gulf Coast Re-Exports of Canadian Heavy Crude Oil Drop to Six-Month Low
Canadian crude oil re-exports from the U.S. Gulf Coast fell back to a six month of 100 Mb/d in September. Spain and India remain the two recipients of these cargoes.
