Liquids output by countries outside the Opec-plus group came to 51.59 million barrels per day of liquids in July, not including refinery gains, a small gain of 80,000 b/d on June and another record high, according to preliminary data. Crude output rose by 280,000 b/d to 36.22 million b/d, a gain offset by a perceived drop in US NGLs production. Although total liquids output in June-July fell slightly from a record 51.6 million b/d set in May, the remaining five months of 2025 should usher in another burst of activity thanks to a handful of project launches in Latin America.
