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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
