marchello74/Shutterstock New global oil production capacity slated to come on line in 2022-26 is estimated at 2.4 million barrels per day per year.Just over two-thirds of this new capacity, or 1.7 million b/d per year, will come from countries not aligned with the Opec-plus group.Regionally, North America will roll out the most capacity on an average basis over the five years, just slightly ahead of Latin America.Among operators, Petrobras is expected to emerge as the new capacity champion during the period, followed by Saudi Aramco. Save for later Print Download Share LinkedIn Twitter The stunning 65% rise in oil prices over the past four months has proven to be a remarkable fertilizer for the medium-term outlook on new production capacity. Projects previously deemed questionable now make economic sense with Brent well over $100 despite the inevitable low-carbon energy transition.
