North America · CAN
Canada
An OECD petrostate with a hydro grid. Oil sands and LNG Canada are the export machine; Quebec and BC are the clean-power brand.
Oil production
6.2 mb/d
2.4 mb/d demand
Net oil
+3.8 mb/d
Export surplus
Gas production
190 bcm
Net +60 bcm
O&G rent
3.8%
Fiscal breakeven $55
Oil balance
Production versus demand, 2025, million barrels per day.
Gas balance
Production versus demand, 2025, billion cubic metres.
Proven oil
163 bn bbl
Gas reserves
2.4 tcm
Refining
1.9 mb/d
LNG
No LNG
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil34%
- Gas66%
Inflows and outflows
What leaves. What arrives.
Canada outflows 4.08 mb/d crude, 0 bcm LNG. Inflows 0 kb/d crude, 0 bcm LNG.
Local crude
WTI Cushing
$103.0
3 January 2026 · Maduro ousted
28 February 2026 · Iran war started
The US print is WTI at Cushing; Brent is the waterborne cousin on the same chart. Hormuz hits Brent first, WTI with a lag and a smaller spike.
All crude tapes and bpd flowsMapped crude
Barrels per day.
Outbound
- United States4.08 mb/d+160 kb/d
Inbound
None mapped.
Economy
Western provinces track WTI; Ontario tracks industrial power rates. TMX and LNG Canada increase exposure to Asian netbacks just as Europe’s gas premium fades.
- GDP
- $2.3 tn
- Population
- 41.0 m
- Oil intensity
- 0.4 bbl /$1k
- Oil & gas rent
- 3.8% GDP
- Hydrocarbon trade
- -4.1% GDP
- Fiscal breakeven
- $55 /bbl
- $30 oil shock
- +18.2 pp GDP
- Club
- Independent
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 2.2 mb/d (net +4.6) versus NZE 1.3 mb/d (net +2.1).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 2.4 | 2.4 | 2.2 | 1.9 |
| Net Zero 2050 | 2.4 | 2.0 | 1.3 | 0.5 |
| Current Policies | 2.4 | 2.4 | 2.3 | 2.0 |