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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The Organization for Economic Co-operation and Development (OECD)’s global growth forecasts for 2025 are slightly encouraging, with the organization raising the figure to 3.2 %.

The OECD has considered aspects such as the impact of geopolitical conflicts and increased trade tensions, as well as global economic resilience and interest rate adjustments.

The figures are different for each region. In the Eurozone, for example, the weakest economies have been Germany (0 % in 2024 and 0.7 % in 2025), France (1.1 % in 2024 and 0.9 % in 2025) and Italy (0.5 % in 2024 and 0.9 % in 2025).

Regarding Spain in particular, according to the OECD, GDP will rise by 3 % this year “and will be the second highest of all Member States, only behind Turkey (3.5 %)”.

In the case of the United States, its growth has been solid and is expected to remain at 2.8 % this year and 2.4 % next year.

China and India, in the Asian region, have provided surprises: China (4.9 % in 2024 and 4.7 % in 2025) and India (6.8 % and 6.9 %, respectively). And they are followed in Latin America by Brazil (3.2 % and 2.3 %) and Mexico (1.4 % and 1.2 %). Regarding Argentina, which is recovering at the end of the year, the OECD estimates that growth will be somewhat higher both in 2025 (2.2 %) and in 2026 (2.1 %), thanks to the fact that the country is preparing to emerge from the recession it has been experiencing.

M.Pino

Source: DW

(Reference image source: Getty Images for Unsplash)

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