A sustained $100-per-barrel oil price could unlock up to 2.1 million barrels per day (bpd) of additional crude supply across South America by the mid-2030s, according to new analysis by Rystad Energy. The finding comes as the effective closure of the Strait of Hormuz has forced a sharp upward revision in our forecasted average 2026 oil price, from $60 Brent per barrel in January to $89 per barrel today. At current production levels, government revenues across South America are expected to rise by approximately $43 billion this year alone relative…
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