The Covid-19 pandemic cut the volume and value of Canadian oil imports from the United States but did not stop the northbound flows, according to the Canada Energy Regulator (CER) and IHS Markit.

Canadian imports from the United States fell 20% year/year in 2020, to 550,000 b/d from 693,000 b/d in 2019 before global oil trade withered in the pandemic, CER records showed.

Depressed volumes and prices because of the pandemic inflicted a 40% cut on the total value of Canadian oil imports from all sources, down to C$11.5 billion ($9.2 billion) in 2020 from C$18.9 billion ($15.1 billion) the year before.

About four-fifths of the value reduction eroded American sales. U.S. production was 77% of Canadian oil imports in 2020, up from 72% in 2019, according to CER. Canadian refineries...