According to the U.S. Energy Information Administration (EIA), Brazil, Guyana, and Argentina are poised to drive nearly half of the projected 0.8 million barrels per day increase in non-OPEC oil supply by 2026. The EIA highlighted that Brazil’s production surge will come primarily from new offshore pre-salt developments, such as Equinor’s Bacalhau field, which commenced operations in October, and two additional FPSOs from Petrobras slated for December. This growth underscores these nations’ increasing prominence in global crude output as reliance on traditional producers evolves. Relevant assets include Oil – Brent Crude, Oil – US Crude, and Natural Gas.
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In market trends for the past month, Natural Gas declined 8.62%, while US Crude and Brent Crude fell 5.96% and 6.39%, respectively. Technical analysis signals for the last day suggest a Sell for US Crude, a Hold for Natural Gas, and a Sell for Brent Crude. These movements reflect a broader correction in energy markets amid supply and demand recalibrations. Investors can explore more updates, prices, and analysis across global markets at Commodities.