North American Oil Data Deck (May 2025)
Winter storms hammered North American petroleum liquids production in February.
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North American total liquids production came to a grinding near-halt in February thanks to the frigid winter storms that wrecked havoc across much of the US and Canadian production base. Growth collapsed to 206 kbpd y/y from the trailing quarterly average of almost 800 kbpd. Both US and Canadian crude production growth fell to around 50 kbpd y/y and Mexico continued its contraction at a pace of roughly 200 kbpd y/y.
North American petroleum product demand fell by -744 kbpd m/m to 24,467 kbpd in February (+179 kbpd y/y) as gasoline demand faltered and diesel jumped ahead.
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