Canada’s end use sales of refined petroleum products totalled 89.7 million cubic metres in 2025, up 1.0 percent from 2024, Statistics Canada reported, with motor gasoline at 43.7 million cubic metres, up 0.4 percent. Sales from secondary distributors were 24.6 billion litres, up 5.2 percent. The annual figures are a demand baseline, not a market move: Canadian product consumption is still growing slowly into the price shock.
China’s refiners are turning to African and Brazilian crude as freight rates ease, OilPrice.com reported, a sourcing shift that shortens the list of buyers competing for Atlantic Basin cargoes at Gulf prices. In Nigeria, the Dangote refinery’s rising intake of domestic crude has reduced United States appetite for Nigerian barrels by 58 percent, BusinessDay reported, another leg of the same rerouting of crude flows around new refining capacity.
UBS sees Brent at 110 dollars a barrel by year end as Gulf flows stay below prewar levels, OilPrice.com reported, a forecast that sits between the site tables snapshot of 110.58 dollars and the higher session levels reported around the EIA release. Australia’s energy exports fell to a 10 year low, the Australian Bureau of Statistics reported, without a figure carried in this run. United States natural gas production has hit new records as demand surges, OilPrice.com reported, which is the supply side of the record short position’s problem: record output and a record short can coexist only while the weather stays mild.