, Columnist
Look to Latin America’s Oil Boom for Energy Security
Extended forecast: Sunny, with no chance of missiles.
Photographer: Dado Galdieri/Bloomberg
From the ultra-deep waters of Brazil’s Santos Basin to the arid shale fields of Argentina’s Patagonia, a new hydrocarbon boom is welling up across Latin America.
About 44% of global crude supply growth between 2025 and 2030 is expected to come from Brazil, Guyana, Argentina and Venezuela, according to consultancy Rystad Energy. Together, these four producers are set to add nearly 2.5 million barrels per day by the end of the decade, out of a projected global increase of 5.6 million.