The U.S. Energy Information Administration (EIA) forecasts an increase in global oil production of 800,000 barrels per day in 2026, thanks to the prominent role of Argentina, Brazil, and Guyana: three non-OPEC countries that will contribute an average of 400,000 barrels per day.

This projection has not gone unnoticed by the United States, which is currently focusing on South American nations in terms of crude oil supply for this year.

The IEA has stated: “Global crude oil production has been driven by non-OPEC countries, which will increase by 800,000 barrels per day in 2026, with Brazil, Guyana, and Argentina accounting for 400,000 barrels per day of global growth.”

In the case of Brazil, the agency projects a significant increase in crude oil production thanks to the operation of “new floating production, storage, and offloading (FPSO) units designed to exploit deepwater oil resources,” with projects such as the Bacalhau field, developed by the Norwegian company Equinor. This year, it could reach 4 million barrels per day by 2026.

Guyana “stands out for having increased its production tenfold between 2020 and 2025, reaching an average of 750,000 barrels per day,” thanks to discoveries in the Stabroek offshore block, operated by the consortium led by Exxon Mobil, in collaboration with Chevron and the China National Offshore Petroleum Corporation (CNOOC). By last November, production had risen above 900,000 barrels, according to the Department of Energy agency.

“Finally, the EIA focuses its attention on the Argentine case, particularly on the shale oil formation in Vaca Muerta, where the US model employing fracking or hydraulic fracturing technology is being adopted.”

M.Pino

Source: elinformador

(Reference image source: Gerhard Crous on Unsplash)      

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La entrada Brazil, Guyana, and Argentina stand out as key suppliers of oil in 2026, according to the IEA apareció primero en Bitfinance.

U.S. crude oil reserves experienced an unexpected decrease of 600,000 barrels, according to a report released last week by the Energy Information Administration.

This development contradicts the projections of experts in the field, who expected an increase of 500,000 barrels during the period from September 13 to 19.

According to information provided to Bloomberg, “reserves fell to 414.8 million barrels, despite the fact that during that period crude oil production increased to 13.5 million barrels per day, near its record level, and that the United States increased imports by 14% and reduced exports by 15%.”

At the same time, the country’s refineries reduced their capacity from 93.3 % to 93 %. As is known, lower refinery activity tends to increase crude oil reserves, since less oil is being refined.

On the other hand, there was a slight increase in refined products on the market (+0.76 %), as a result of the growth in gasoline deliveries (+1.70 %).

M. Pino

Source: bancaynegocios

(Reference image source: Zbynek Burival on Unsplash)

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The Energy Information Administration (EIA) published recent data on its ranking of oil exporting countries to the United States, where Venezuela is ranked number 6.

According to this agency, crude oil exports from Venezuela to the United States stood at 177,000 barrels per day (bpd) in March of this year, which represents a year-on-year increase of 62%.

This is a significant increase given that by February the Caribbean nation “had fallen to tenth place by exporting 142,000 bpd and was overtaken by its neighbor Guyana (227,000).”

 According to the data by quarter, oil exports from Venezuela increased 56% compared to the average achieved in the first quarter of 2023.

It is important to highlight that during the first quarter of 2024, 157,000 bpd were averaged, compared to the previous year, when the average was 69,600 bpd.

M.Pino

Source: noticierovenevision

(Reference image source: Unsplash+, in collaboration with Getty Images)

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