North American Oil Data Deck (December 2025)
Another record month for continental petroleum production, with year-over-year growth supercharged by favourable 2024 maintenance and hurricane-related base effects
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Summary
North American petroleum liquids production rose +162 kbpd m/m to hit a fresh, all-time high of 31,165 kbpd in September. Year-on-year growth, at ~+1.8 MMbpd, was roughly double the trailing annual average in September pace thanks to hugely beneficial base effects related to heavy oil sands maintenance in Canada and hurricane-related Gulf Coast disruptions in the US. Overall continental output remains exceptionally robust, with US and Canadian non-OPEC-leading growth more than making up for the continued deterioration of Mexican supplies.
Continental petroleum product demand slipped seasonally (-379 kbpd m/m) to 25,261 kbpd in September, but that was higher on the year by 641 kbpd y/y, double the trailing annual average pace, with all three countries printing y/y gains.
[Full PDF Deck and Country-Level Analysis Below Paywall]