Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% in 2018 compared to 2017, reaching a record total monthly production of over 100 million tons at the beginning of the year and remaining above this for almost all of 2018, according to the IEA. This trend was observed across all OECD regions with the OECD Americas seeing the largest growth (+12.2%), followed by OECD Europe (+0.6%) and OECD Asia Oceania (+2.5%) in absolute terms. Production from the United States rose to a record high in the third quarter of 2018, and increased by 17.1% or 105 Mt in 2018 compared to 2017. Canadian production also increased on an annual basis (+8.1%), due to robust production of crude oil, while Mexico’s production continued to fall (-6.3%). The United Kingdom experienced the largest growth in production in OECD Europe (+10.1%) due to multiple […]