Canada's Rebound Lifts Global Supply

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Global supplies of hydrocarbon liquids in June, including refining gains, amounted to 100.6 million barrels per day, an increase of 390,000 b/d on May, according to Energy Intelligence's assessment. Canada accounted for nearly all the growth, as wells were restarted after massive forest fires that paralyzed part of the industry in May. Canada's output grew 350,000 b/d to 5.23 million b/d, while Brazil added another 150,000 b/d thanks to the seasonal ramp-up of biodiesel production. As a result, non-Opec-plus boosted liquids output by 525,000 b/d to 47.18 million b/d, while Opec-plus posted a decline of 180,000 b/d to 50.9 million b/d.

Oil Supply, Crude Oil
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