Crude Oil Trade: Great potential for Canada, although obstacles to overcome first After the US oil boom, Canada, together with Brazil, is another country whose production will expand dramatically over the next decade. The North-American country accounts for around 25% of new crude oil supply to be added globally through 2050. New pipeline projects have so far faced significant delays, primarily due to environmental concerns and regulatory obstacles. Canada's proven oil reserves are estimated close to 170 billion barrels, coming third globally to Saudi Arabia and Venezuela. Since Canada's domestic needs are only expected to grow slowly, exports will only continue to grow, assuming that the required infrastructure will be built along the western coast. Canada's exports to the US have reached 4.7 million b|d, with its heavier sour barrels remaining quite popular across US refiners, especially during periods of fast-declining output across other traditional suppliers to the US, such as Venezuela and Mexico. However, Canadian oil still faces some major challenges before further expanding.