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Canadian supply rose by 20,000 bbls/d in August to 5.8 million bbls/d, the International Energy Agency (IEA) noted this morning in its monthly report on the oil market.
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Martin King has seen numerous cycles in the crude oil and natural gas markets over his approximately three decades of tracking and analyzing the sector, but the senior analyst at RBN Energy, LLC says the current cycle stands out on many different levels.
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Total oil volumes from non-OPEC+ countries rose by 350,000 bbls/d in June to 47.9 million bbls/d, thanks to increased output from the U.S. and Canada and seasonally higher biofuels production, the International Energy Agency (IEA) stated in its monthly oil report for July.
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