North American Oil Data Deck (June ‘23)

Fresh all-time high US liquids production pushes continental output to a new record.

This 33-page June 2023 edition of my monthly data-dense and visualization-heavy North American Oil Data Deck (attached PDF below paywall) is exclusive to paid Commodity Context subscribers. The deck contains detailed, decomposed accounting for US, Canadian, and Mexican upstream (i.e., production), downstream (i.e., refining) oil activity, and end-user demand.

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• North American total liquids production set a fresh all-time high of 28 million barrels per day in March, which is up 0.5 MMbpd m/m and brings the first quarter average to 1.8 MMbpd higher than the same period last year.

• In the first quarter, North American crude and equivalent output rose 1.4 MMbpd y/y and natural gas liquids output was up 0.4 MMbpd y/y.

• North American refining activity rose 0.75 MMbpd m/m to 21.9 MMbpd in March, with quarterly output up 0.1 MMbpd on the year.