Latin America takes a hit
The region’s oil output continues to fall and recovery won’t be swift
Traders seeking signs of a market recovery have spent the past 18 months scouring US data, focused on shale. They should spend time looking further south as well. Outside the US, Latin America's oil production has been the hardest hit of any region. Petroleum Economist analysis shows crude output from the region's major producers has dropped in the last year and a half by about 0.7m barrels a day, or almost 7%. In June, it amounted to just 9.09m b/d. It is a marked turnaround for a region that just a couple of years ago was expected to suck in investment and be a major contributor to global oil output growth. The national oil companies that dominate Latin American production are largely to b
Also in this section
11 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
10 April 2025
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
