Canadian crude oil exports to China up 159% last quarter ahead of Carney's visit

With Prime Minister Mark Carney's trip to the People's Republic of China (PRC) set to take place later this week, Canadian exports to China, particularly exports of crude oil and agricultural products, have surged as Canada looks to expand its international export market.Figures showing the boost in export trade in the third quarter of 2026 have been compiled by the China Institute at the University of Alberta and show that China continues to grow as a major market for Canadian exports."Our exports are going to hit record highs this year, and the numbers are accelerating,” said Philippe Rheault, director of the China Institute, in an interview with CTV News.Total trade between Canada and the PRC reached $36.78 billion in the third quarter, the highest number ever recorded between the two nations.Crude oil exports alone have seen an increase of 159% in the third quarter, averaging 327,000 barrels of Canadian crude being exported to China a day.This increase is the result of a multitude of factors, with the two main reasons being the supply disruptions in oil due to the conflict in the Middle East, as well as the increased capacity as a result of the Trans Mountain pipeline expansion.This uptick can also be attributed to the Canadian government's heavily publicized plan to diversify Canada's exports, mainly as a result of the ongoing trade and tariff dispute between Canada and its largest trading partner, the United States.."I think a lot of experts were predicting that most of the Canadian crude that made it to tidewater would actually end up going to California and not going to Asia," said Rheault about this change."That’s been disproved emphatically, and it’s almost all going to East Asia, and the majority of that is going to China."In addition to the increase in oil exports, exports of canola, peas, and beef have all seen massive, across-the-board increases compared to previous years as China continues to grow as a major importer of Canadian agricultural products. Exports of canola meal rose by almost $350 million compared to a year earlier, growing from $12.9 million to $360.3 million, while pea exports grew from $9.2 million to $147.6 million, with Saskatchewan contributing to a majority of this growth.As well, exports of beef, which historically has been an area of trade that was nonexistent between Canada and China, have surged to $181.4 million.With the exports mainly consisting of energy and agricultural products, it's unsurprising that the majority of these exports have come from Western Canada.Despite across-the-board growth for all provinces, Alberta and Saskatchewan accounted for around 78% of the export increase alone.It's expected that these numbers will continue to grow as the relationship between Ottawa and Beijing continues to improve following years of masked hostility between the two nations.Carney is expected to discuss increasing trade stability between the two countries during his upcoming visit, with the government's stated goal being to increase exports to China by 30% by 2030.

Canadian crude oil exports to China up 159% last quarter ahead of Carney's visit

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