South America’s Oil Exports Surge Reshaping Markets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2026
0mins
Source: Newsfilter
- Surge in Exports: South America's total oil exports reached 787 million barrels in 2026, marking an 84% increase from 430 million barrels in the same period of 2021, establishing the region as a vital new source in global oil supply.
- Key Exporters' Performance: Brazil, Guyana, and Venezuela have collectively added approximately 145 million barrels to their exports this year, despite slight declines from Colombia, Ecuador, and Peru, showcasing the region's robust growth in oil exports.
- Guyana's Rapid Rise: Since starting oil exports in 2020, Guyana's shipments surged from 17 million barrels in 2021 to 137 million barrels in 2026, representing a staggering 700% increase, making it the fastest-growing oil exporter among major nations.
- Future Outlook: With significant investments from companies like ExxonMobil, Guyana's oil production and exports are expected to continue rising in the next year, further solidifying South America's role as a crucial player in the global oil market.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 146.600
Low
114.00
Averages
132.17
High
158.00
Current: 146.600
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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