While everyone is talking about how surging U.S. crude oil production will offset a large part of the ongoing OPEC/non-OPEC production cuts, there are other oil producers not taking part in the OPEC+ deal and poised to see their output jump this year. Record-breaking U.S. oil production will lead the non-OPEC supply growth this year, all analysts and estimates concur. Second in terms of production growth among non-OPEC nations outside the deal will be Brazil, where several new start-ups and production ramp-ups are set to deliver the country’s highest annual oil output growth in at least two decades . The most recent estimates by the International Energy Agency (IEA) and OPEC show that Brazil’s production growth this year will be around 360,000 bpd from 2018, and Brazil will see the second-highest supply growth, second only to the United States. Rising output in Brazil will add more crude oil supply […]