Non-OPEC+ oil growth finds its engine in South America, with Radhika Bansal

Let’s Talk Energy and look closely at the oil supply picture in South America. The continent is poised to become one of the largest – if not the largest - source of new oil outside of the OPEC+ producers’ group as output growth from deepwater and shale developments will at least match – if not exceed - that of North America.  That growth is being driven by a mix of favorable geology as well as effective policies that are keeping development costs highly competitive, even at oil prices below current levels.  At the same time, South America remains an exploration destination as national and international oil companies alike look to boost reserves to meet a future where oil demand looks increasingly resilient.   How much additional oil could South America add to global markets in the next five years, and which countries will drive that growth? Where are the exploration hotspots we are watching that could become the continent’s next giant fields? How will South American countries and the companies working there maintain their output gains and what are some wildcards that could push our forecasts up or down?   Related Analysis South America to be key driver of non-OPEC+ supply through 2030  (accessible for non-clients) Vaca Muerta's oil and gas boom signals Argentina’s pivot towards LNG exports (accessible for non-clients) South America to be a key engine of non-Opec+ supply to 2030, with upside (clients only)  Vaca Muerta's 2Q25 production growth underpinned by regional players (clients only)  Deepwater, shale fuels Latin America crude growth but sanctioning plunges (clients only)   Related Episodes COP30 and carbon markets in the age of climate pragmatism, with Jeffrey Dickerson and Petter Aspestrand The future of global energy demand, with Claudio Galimberti and Jorge Leon The looming oil supply challenge with Artem Abramov Let’s Talk Energy is a Rystad Energy Production.Produced by: Laura Rodriguez Skaug & Både Og.Executive producers: Noah Brenner, Elliot Busby, Evodie Fleury-Greaker & Erik Means.Follow us on: LinkedIn YouTube Instagram X