EIA cuts Latin American oil production forecast

NEW YORK Wed Jun 25, 2008 9:15am EDT

NEW YORK (Reuters) - The U.S. Energy Information Administration on Wednesday slashed its forecast for 2010 Latin American oil production by 500,000 barrels per day to 7.9 million bpd amid declines in Mexico and elsewhere.

In its long-term world energy outlook, EIA cut its forecast for Mexican oil production in 2010 by 200,000 bpd to 3.0 million bpd and in 2030 by 800,000 bpd to 2.8 million bpd.

The declines will be offset by a rosier production outlook in Brazil, the EIA said.

The statistical arm of the Department of Energy raised its forecast for Brazilian oil production in 2010 by 500,000 bpd to 3.2 million bpd and in 2030 by 1.3 million bpd to 5.7 million bpd.

(Reporting by Richard Valdmanis; Editing by John Picinich)