North American Oil Data Deck (May 2026)

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This 47-page May 2026 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.This report includes some additional charts and analysis above the paywall outlining recent trends in US weekly data, with a particular focus on the geographic spread of US crude inventories and the marked shift in trade flows.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.If you’re already subscribed and/or appreciate the free chart and summary, hitting the LIKE button is one of the best ways to support my ongoing research.North American petroleum liquids production surged back to life following the sizable shut-ins forced by Winter Storm Fern in January, rising +0.9 MMbpd m/m (+1.5 MMbpd y/y) in February to 30.8 MMbpd.Continental demand was shockingly strong in February at 25.8 MMbpd (+0.5 MMbpd m/m, +1.0 MMbpd y/y) driven by US growth, especially growth in US diesel consumption.In addition to our regular monthly tracking, this month includes some context around the data published by the US Energy Information Administration (EIA) in its Weekly Petroleum Status Report (WPSR). Higher-frequency data is particularly important as the market attempts to handicap rapidly evolving fundamentals.The latest weekly US inve…