The conflict involving Iran and disruptions to Middle Eastern energy supplies are driving a boom in oil and gas production across the Americas as global buyers seek more reliable sources. According to the Financial Times, Rystad Energy projects that combined oil and gas output in North and South America will increase by 10% over the two years ending December 2026. The United States, Canada, Brazil, Argentina, and Venezuela are among the countries benefiting from rising demand and investment.
As the FT reports, Argentina and Venezuela are attracting major investments to expand production, while Canada is advancing liquefied natural gas (LNG) export projects and potential oil pipeline infrastructure. In the United States, crude oil and petroleum product exports have increased, and shale production is expected to grow further if the conflict continues. These developments reflect efforts to diversify global energy supply chains and reduce dependence on Middle Eastern exports.
The Americas cannot fully replace the Middle East’s lower-cost oil and gas supplies; increased production could help moderate global energy prices and limit OPEC’s influence over future markets. The expansion is strengthening the Americas’ role in global energy security and creating new investment opportunities amid geopolitical uncertainty.
