Latin America enters new phase of oil production growth, BLADEX says
USO•Latin American oil production is nearing pre-commodity-crisis levels and increasing the region’s share of global crude supply. Brazil is expected to remain the main growth engine, while Argentina leads regional natural gas growth prospects.
1. Regional production outlook
Latin American oil production is nearing pre-commodity-crisis levels, increasing the region’s share of global crude supply. The Iran conflict has created opportunities for fossil fuel producers despite declining underlying demand.
2. Country prospects
Brazil’s offshore development, regulatory liberalization and foreign investment support expansion over the next decade. Argentina’s natural gas growth prospects are supported by unconventional resources and intensive drilling in Vaca Muerta, while Colombia faces shrinking reserves and weaker exploration; offshore Sirius could reshape its gas outlook. Underinvestment constrains Ecuador.
