Latin America is expected to be a leading source of global oil supply growth in 2025 and 2026, with new production from Brazil and Guyana significantly expanding global output, according to forecasts from Oxford Economics.
The advisory firm projects that global oil production will reach about 106 million barrels per day in 2026, supported by a 1.6 million-barrel-per-day supply increase. Brazil and Guyana together are expected to contribute roughly 1.6 million barrels per day across 2025–26, making the region one of the strongest contributors outside the United States and the Middle East.
