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North American oil production up 239 kbpd m/m in March

Created at 3 Jun · 1:37 PM1 source↑ Market-relevant
IN SHORT

North American petroleum liquids production rose 239 kbpd month-over-month to 31,141 kbpd in March, driven primarily by the US. Continental demand fell 803 kbpd m/m to 25,019 kbpd, with US NGL demand boosting growth. US refineries shifted yields from gasoline to jet fuel amid high margins.

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Key Numbers

47 pagesJune 2026 data deck length
+239 kbpdNorth American petroleum liquids production m/m increase
31,141 kbpdNorth American petroleum liquids production total
+924 kbpdNorth American petroleum liquids production y/y increase
-803 kbpdContinental petroleum product demand m/m decrease
25,019 kbpdContinental petroleum product demand total
+555 kbpdContinental petroleum product demand y/y increase

Who's Involved

Commodity Context
Publisher of the North American Oil Data Deck

↳ Why This Matters

The data indicates shifts in North American oil production and demand, with US refinery activity prioritizing jet fuel over gasoline due to margin opportunities, potentially impacting regional fuel availability and pricing.

Key facts

  • North American petroleum liquids production advanced 239 kbpd m/m to 31,141 kbpd in March.
  • US production drove the increase, while Canadian growth paused and Mexican output improved.
  • Continental petroleum product demand fell 803 kbpd m/m to 25,019 kbpd in March.
  • US NGL demand propelled the growth in continental demand.
  • US refineries shifted yields from gasoline to jet fuel due to exploding margins.

The June 2026 edition of the North American Oil Data Deck reports that North American petroleum liquids production increased by 239 kbpd month-over-month to 31,141 kbpd in March. This growth was primarily driven by the United States, with Canadian production experiencing a temporary pause and Mexican output shifting from a drag to a modest boost for continental output.

Continental petroleum product demand saw a decrease of 803 kbpd month-over-month, reaching 25,019 kbpd in March. The United States accounted for the majority of this decline, largely due to significant increases in Natural Gas Liquids (NGL) demand.

In the refining sector, US refineries adjusted their output yields, moving away from gasoline production towards jet fuel. This shift was influenced by exploding refining margins and aimed to alleviate shortages of jet fuel, although it contributed to tighter gasoline markets.

Frequently asked questions

North American petroleum liquids production reached 31,141 kbpd in March.

US refineries shifted yields away from gasoline toward jet fuel due to exploding margins, aiming to prevent jet fuel shortages.

Continental petroleum product demand fell 803 kbpd month-over-month to 25,019 kbpd in March, with US NGL demand being a key factor.

What Happens Next

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How It Developed

3 Jun · 1:08 PM
The June 2026 North American Oil Data Deck details US, Canadian, and Mexican oil activity, with March data showing increased production and demand.
Commodity Context | Rory Johnston via PiQSuite

Sources

T1
North American Oil Data Deck (June 2026)m.piqsuite.com

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