Why South America Is Big Oil’s New Favorite Continent

South America continues to feature prominently among petroleum industry headlines. Offshore Brazil and Guyana have become the focal point of what is shaping up to be the continent’s two biggest oil booms, while Venezuela’s once mammoth oil industry has nearly collapsed. Ongoing wrangling within OPEC plus over production cuts, with the United Arab Emirates disagreeing with Saudi Arabia at the last meeting, is putting considerable pressure on oil prices. The international oil price benchmark Brent has lost 16% since soaring to over $78…