EIA: Brazil, Guyana, Argentina Driving 2026 Oil Output Growth [Yahoo! Finance]
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Source: Yahoo! Finance
Energy Information Administration has predicted . According to the energy watchdog, Brazil's growth will mainly be driven by new offshore pre-salt projects coming online, including the start-up of Equinor 's (NYSE:EQNR) Bacalhau field in October as well as the start-up of two additional FPSOs by Petrobras in December. EIA has projected a 0.2 mb/d increase in production by Brazil in 2026 to 4.0 mb/d. In Guyana, rapid development of the Stabroek Block by Exxon Mobil (NYSE:XOM) and its partners is pushing production to new highs, with potential for over 1 million barrels per day (bpd) as new FPSOs (Yellowtail, Uaru, Whiptail) come online. Exxon's Yellowtail project has already attained full production capacity, pushing Guyana's production to more than 900,000 b/d. Guyana is increasingly exporting crude to Asian markets. Meanwhile, the start-up of the Uaru project in 2026 will add another 250,000 b/d of supply, helping push Guyana's crude oil production past 1.0 million b/d by 2027.
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