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North American Oil Data Deck (July 2025)

North American Oil Data Deck (July 2025)

Continental production pulled back in April on seasonal Canadian oil sands output declines, while US crude production began to stall out and demand across all three countries strengthened.

Rory Johnston's avatar
Rory Johnston
Jul 03, 2025
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Commodity Context
Commodity Context
North American Oil Data Deck (July 2025)
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Happy belated Canada Day and early Independence Day, Commodity Context Subscribers!


This 37-page July 2025 edition of my monthly data-dense, visualization-heavy North American Oil Data Deck is exclusive to paid Commodity Context subscribers (attached PDF below paywall). The deck contains detailed and decomposed accounting for US, Canadian, and Mexican upstream (i.e., production) and downstream (i.e., refining) oil activity as well as end-user demand.

Become a paid subscriber today to view the full North American Oil Data Deck report and join me in my hunt for ever-deeper oil & gas market context.

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Summary

  • North American petroleum liquids production fell back by -205 kbpd m/m to 29,998 kbpd in April, driven by a seasonal decline in Canadian output (-229 kbpd m/m) together with miniscule monthly output gains in both the US (+16 kbpd) and Mexico (+7 kbpd). This remains 623 kbpd higher than this time last year, with y/y gains stabilizing in Canada and the US while Mexico’s output remains in steep y/y contraction but the pace of declines is moderating.

  • North American petroleum product demand rose 248 kbpd m/m to 24,595 kbpd in April, with growth accelerating to a very strong +452 kbpd y/y and strong y/y growth comparisons reported across each of the US (+205 kbpd), Canada (+179 kbpd), and Mexico (+67 kbpd).

[Full PDF Deck and Country-Level Analysis Below Paywall]

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