US still dependent on Canadian oil, despite Trump's claims, Cenovus CEO says

Published: 2025-06-10 13:48:08 ET CVE.TO

Published on 06/10/2025 at 13:48

CALGARY (Reuters) -The U.S. is still reliant on Canadian oil imports, despite claims made by U.S. President Donald Trump, Cenovus Energy's CEO said on Tuesday at a conference in Calgary, Alberta.

Trump has threatened on-again, off-again tariffs on Canada's oil, of which nearly 4 million barrels per day are exported to the United States.

Canada also remains dependent on U.S. energy systems, Cenovus CEO Jon McKenzie said, adding the country must diversify its customer base.

(Reporting by Amanda Stephenson in Calgary; Writing by Liz Hampton in Denver; Editing by Chris Reese)