South America Could Unlock 2.1 Million Barrels a Day on $100 Oil

Trucks near oil storage tanks at the Petroleo Brasileiro SA (Petrobras) Paulinia Replan Refinery in Paulinia, Sao Paulo state, Brazil. — Trucks near oil storage tanks at the Petroleo Brasileiro SA (Petrobras) Paulinia Replan Refinery in Paulinia, Sao Paulo state, Brazil.
Photographer: Maira Erlich/Bloomberg

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By Peter Millard

April 20, 2026 at 8:21 PM UTC

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South America could deliver an additional 2.1 million barrels of daily oil supplies by 2035 with crude prices around $100, Rystad Energy wrote in note on Monday.