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Premium Content South America Set To Struggle With Stranded Oil Assets By Matthew Smith - Dec 10, 2020, 11:00 AM CST Sharply weaker oil prices and the COVID-19 pandemic are weighing heavily on the outlook for crude oil. It is not only U.S. shale oil and gas which will experience a wave of stranded assets because of the poor outlook for crude oil, such an event is also looming in Latin America. The latest oil rally, spurred on by hopes of a coronavirus vaccine, has seen Brent climb more than 33% since the start of June 2020 to around $49 per barrel, but that still may not be enough. The global push to reduce emissions, decarbonize the world economy and slow climate change are only adding to the pressure on oil markets. A key threat for the future of oil in Latin America is the emergence of peak oil, which is expected to arrive in 2030 or even sooner. When that occurs, demand for fossil fuels will stop growing and will start to steadily weaken - causing oil prices to ente

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