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AMERICAS OIL: LatAm Output Rise Poses Questions for Exporters: Argus

AMERICAS OIL
USEnergy BulletsNorth AmericaBulletCommodities

Crude supply from Latam is set to rise significantly this year, driven by Brazil, Guyana, and Argentina, which are expected to add an extra 400k b/d of mainly light and medium sweet crudes, Argus said.

  • Brazil will boost output by 220k b/d, with new FPSO vessels at the Buzios and Mero fields.
  • Furthermore, Guyana's output will increase with the Yellowtail project,and Argentina will benefit from expanded storage and loading facilities at Puerto Rosales.
  • The main challenge for these producers is finding markets for their exports amid geopolitical uncertainties, Argus added.
  • Tighter US sanctions on Russian exports are boosting interest in Brazilian and Guyanese grades, while potential US trade tariffs on Canada and Mexico could shift crude flows.
  • Lower shipping risks in the Red Sea might increase Mideast Gulf flows to Europe, opening opportunities in APAC.
  • While Latam grades are likely to attract new customers, though they are not direct substitutes for heavy sour Mexican and Canadian grades, Argus added.
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Crude supply from Latam is set to rise significantly this year, driven by Brazil, Guyana, and Argentina, which are expected to add an extra 400k b/d of mainly light and medium sweet crudes, Argus said.

  • Brazil will boost output by 220k b/d, with new FPSO vessels at the Buzios and Mero fields.
  • Furthermore, Guyana's output will increase with the Yellowtail project,and Argentina will benefit from expanded storage and loading facilities at Puerto Rosales.
  • The main challenge for these producers is finding markets for their exports amid geopolitical uncertainties, Argus added.
  • Tighter US sanctions on Russian exports are boosting interest in Brazilian and Guyanese grades, while potential US trade tariffs on Canada and Mexico could shift crude flows.
  • Lower shipping risks in the Red Sea might increase Mideast Gulf flows to Europe, opening opportunities in APAC.
  • While Latam grades are likely to attract new customers, though they are not direct substitutes for heavy sour Mexican and Canadian grades, Argus added.