IEA: Non-OPEC LatAm Oil Supply to Rise 230,000b/d in 2006

Latin American oil supply, excluding Mexico and Venezuela, is expected to increase an average 230,000 barrels a day (b/d) in 2006, close to the expected 2005 increase, due to higher Brazilian production, according to the latest monthly report from the International Energy Agency (IEA).

Excluding Mexico and Venezuela, Latin American oil supply is expected to reach 4.5 million barrels a day (Mb/d) in 2006, of which Brazil is expected to provide 2.3Mb/d.

“Brazil accounts for all of the growth expected in 2006 as production elsewhere generally declines,” the IEA said.
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