Key Facts
WTI crude jumps to 123.96 dollars closing up 3.91% day-on-day via USO, extending a multi-week rally that tightens margins for importers but fattens cash flow for producers.
Brazil’s pre-salt now delivers more than four-fifths of national output with April 2026 production at 5.64 million barrels of oil equivalent per day and around 4.34 million barrels per day of crude.
Petrobras leans on record pre-salt fields as the Búzios offshore field alone averages 1.1 million barrels per day, following Tupi past the one-million-barrel mark.
Guyana has emerged as South America’s second-largest oil producer pumping about 926,550 barrels per day by late February 2026, with capacity set to cross one million barrels per day once the Uaru project starts up later in the year.
